Square Enix are looking to expand their global sales and increase overseas revenue from the current 50% of the total to 75% within the next three to five years.
A Financial Times article from last week announced Square Enix's intention to find US and European partner publishers in order to boost overseas sales. Within this, was a statement that their current overseas revenue was around 10 to 20 percent of the company total and they were looking to increase it to around half. Today, Square Enix president Yoichi Wada has issued a statement clarifying that current revenue from foreign sales is in fact around 50 percent and they are looking to increase this to 70 percent in the next three to five years. The full details are in the press release below.
Square Enix Comment on Overseas Business Development
Tokyo, Japan, (September 28, 2007)– Square Enix Co., Ltd. today made a comment to clarify its position on overseas business development.
“It is crucial for us to expand our businesses on a global basis," said Yoichi Wada, President and Representative Director, Square Enix Co., Ltd.“At this point, our revenue from sales of games for console and handheld devices in overseas markets such as North America, the PAL territories and Asia accounts for about 50% of the total revenue in this segment. Given the fact that the size of overseas markets is now more than three times as large as the domestic market, we recognize numerous growth opportunities. Our strategy to seize such opportunities is two-fold; (i) strengthen our own distribution channels developed by our local subsidiaries in these geographic areas, and (ii) diversify our content in accordance with user preferences in each area. Through these strategic initiatives, our initial goal within a time frame of three to five years is to raise our foreign sales ratio for console/handheld games from its current 50% level to approximately 75%. We shall continue our effort to better serve overseas markets."
