Gold Drops to $1,200/oz for First Time Since June in New York
Square Enix Plunges Most in Almost Two Years After Cut in Profit Forecast
Square Enix Holdings Co., the Japanese creator of “Final Fantasy” game series, fell the most in more than two years in Tokyo trading after cutting full-year profit forecast 92 percent.
Square Enix tumbled 10 percent to close at 1,434 yen, the biggest drop since October 2008. The stock lost 26 percent this year, compared with a 2.3 percent retreat in the benchmark Nikkei 225 Stock Average.
Net income will probably fall to 1 billion yen ($12 million) in the year ending March 31 compared with an earlier forecast for 12 billion yen, the company said yesterday. Japan’s largest maker of role-playing video games is predicting its smallest annual profit since 2003, when the company was formed after the merger of Square Co. with Enix Corp.
Profit is expected to slump because of the delay in releasing “Final Fantasy XIV” online game for Sony Corp.’s PlayStation 3 and “Deus Ex” title for the PS3 and Microsoft Corp.’s Xbox 360, the Tokyo-based company said.
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