Former Square Enix boss Hisashi Suzuki has publicly decried the company's 2003 merger, calling it a complete failure.
Suzuki, who was part of the company from 2000 to 2005, revealed the total value of publicly traded stock for Square Enix has never surpassed its value prior to the merger.
"The merger was a complete failure," Suzuki stated on Twitter. "There's no vision for the future."
Square's former boss added that high development costs are a major factor in the company's overall lack of growth, pointing to a 5.4bn yen deficit last month.
Square Enix reported a $13m loss in its latest quarter just last week, with console game sales leaving much to be desired.