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Square Enix expects to fall short of profit target

Final Fantasy XIII release delayed in Europe until sometime after April 2010

Square Enix has reported that it has enjoyed robust holiday sales and that its operating profit will be roughly in line with its forecast for the year, however the company is still likely to miss its recurring profit target.

The company said last year that its operating profit was likely to dip 2.4 per cent to JPY 21 billion (USD 236 million) year-on-year, and Square Enix says it still expects this to be the case, according to the Guardian.

"Demand has been generally brisk," said Square Enix's president Yoichi Wada. "The sluggish economy has not hurt us that much yet."

Wada went on to say the company will probably fail to meet its recurring profit target of JPY 50 billion (USD 553 million), for the year ending in March 2011, citing the global economic downturn and a strengthening yen.

"It's going to be tough ... Just when we are trying to boost our overseas sales, the yen is getting firmer," Wada said.

Square Enix also plans to release Final Fantasy XIII in 2009 in Japan, where it is a PlayStation 3 exclusive, however overseas launches of the PS3 and Xbox 360 title have been delayed until some point after April 2010.

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