Square Enix slashes earnings forecast

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Square Enix has delayed the Japanese release of Dragon Quest IX, causing a massive revisal of its predicted earnings.

According to a report on Japanese site ITmedia, which quotes a Square Enix release, the company has discerened that a 'severe defect' exists in the current build of the game, and has delayed the release of the much-anticipated game until July in order to fix the problem.

As such, the company has simultaneously revised its earnings forecast for March, cutting expected net profits to 34.7 million, down over 60 per cent. Pre-tax profit estimates have been halved to 77 million, with proceeds expected at just over 1bn (down 208 million).