Final Fantasy Maker Square Enix Denies Rumors That It's Going Private
Final Fantasy developer Square Enix has spoken out to address rumors that it's going private.
Japanese business magazine Sentaku recently reported that Square Enix was looking into going private, leading to a nearly 12% increase in the company's stock price on the Tokyo Stock Exchange. But this is not the case, Square Enix has said, responding to the claim.
"The September issue of the monthly magazine Sentaku carried a report regarding the possibility of Square Enix Holdings Co., LTD. (the 'Company') going private. However, this information was not announced by the Company," Square Enix said in a statement. "No consideration is currently being given within the Company to taking the Company private."
The news comes amid wider consolidation across the gaming industry. EA was recently acquired by a Saudi Arabian investment group and taken private, which has led to concerns from both fans and EA employees about what its new owners will do. Will they continue to invest in single-player games from BioWare and leverage beloved IP like Dead Space, or will they go heavy on microtransactions and live-service games? It'll be a while before we can really see the effects of the acquisition and EA's decision to go private, but naturally, a report like this for Square Enix can lead to rampant speculation about the company's future.
Square Enix itself has made a lot of changes this decade, with arguably the biggest adjustment being when it off-loaded a lot of its western studios, such as Crystal Dynamics and Eidos Montreal, in 2022. These teams were acquired by Embracer Group, meaning Square Enix no longer has the rights to franchises like Tomb Raider and Deus Ex. The company has also undergone multiple rounds of layoffs over the last few years, but has managed to soldier on.
Cade Onder is a freelancer for IGN's news team. He covers all things entertainment, including gaming, film, and more. You can find him on Twitter @Cade_Onder.