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Square Enix more than doubles profit forecast

Net income for 6 months ending Sept 30, 2011 now predicted at ¥3.7bn

Square Enix has upwardly revised its profit predictions for the six months ending September 30, 2011, more than doubling the forecast from ¥1.5 billion to ¥3.7 billion.

The revised predictions are largely attributed to good sales of Deus Ex: Human Revolution, and growth in the company's smartphone, social and online markets.

The arcade and amusements sector was also identified as having exceeded expectations, as was the comic and publishing department.

The report marks a positive departure from the trend of other recent reports from Japanese companies, including Sony and Nintendo, which have all indicated a difficult financial period.

Those reports blamed a significant portion of their downturn on increasingly unfavourable exchange rates for the strong Yen against a weakening Euro, Sterling and US Dollar, something which Square Enix acknowledges as having an impact.

The company estimated losses due to exchange rates at ¥2.1 billion for the six month period. Full year forecasts for the company remain unchanged.

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Dan Pearson