Former Square Enix director Hisashi Suzuki has trashed that company on Twitter for having “no vision for the future”.
The Sega director noted that Square Enix’s current value of 124 billion yen (NZ$1.9 billion) is far below the value of Square before it was merged with Enix in 2003, when it was worth 150 billion yen (NZ$2.3 billion).
The merger was a “complete failure”, he added.
Unexpectedly slow sales of games drove Square Enix to forecast a loss of nearly 5.4 billion yen (NZ$81 million) on Tuesday. It had expected to break even over the first six months of the financial year.
Sleeping Dogs has shipped 1.5 million copies since August with copies sold unknown, while Dragon Quest X has attracted 400,000 paying players.
Compounding the problem, subsidiary Taito endured “sluggish” sales of its arcade machines.
Suzuki was president of Square from 2000 to 2002, and director at Square Enix from 2003 to 2005.
The company’s upcoming releases include Hitman: Absolution and Tomb Raider.