Square Enix has reported its first quarter financial results, showing significantly reduced losses year-over-year for the three month period concluded on June 30th.
The company posted a $5m loss for the period, a 75 per cent reduction versus its $21m loss for the same period during the year prior.
Social and browser titles such as Sengoku IXA made up for the lack of big releases in the quarter, with the company's amusements business also showing continued growth.
The firm curiously posted an extraordinary loss, defined as a loss suffered under unusual circumstances, of $16.2m. Square states the following on the matter:
“In response to the latest environmental changes in the game industry, the Group has implemented a change in its development policy, and conducted a comprehensive review on work-in-progress game titles for the three-month period ended June 30, 2013.”
That would seem to suggest certain projects have either been cancelled or shaken up in some way, though no further information or mention of the extraordinary loss beyond the brief statement can be found in the report.