Square Enix’s cancelled games were mostly slated for release in March 2027 and beyond 

Square Enix’s new 3-year business plan for March 2025 to March 2027 reveals that many of the company’s cancelled games were set to be released in or after March 2027. The hints provided in the plan, made public on May 13, have led to much speculation among Japanese commenters as to which titles have been shelved.  

Square Enix revealed that they faced issues last year with games “cannibalizing” each other, due to releasing too many titles in quick succession. They also announced that platform-exclusive titles, such as the PS5-only games Final Fantasy 16 and Final Fantasy 7 Rebirth did not sell as well as forecast. In addition, Bloomberg reported that PlayStation exclusive Foamstars, a new Splatoon-like IP developed by outside studio Toylogic, failed to meet expected sales targets. As a result, Square Enix’s new mid-term plan “aggressively” pursues multiplatform releases with a focus on developing a smaller number of titles than before (Related Article), favoring a “disciplined pipeline strategy” of quality over quantity. 

Square Enix has reported 38.8 billion yen in extraordinary losses from cancelling games in-development as part of their new business strategy. Furthermore, they revealed on page 16 of the mid-term business plan that most of the cancelled games were scheduled to be released in March 2027 and beyond, explaining that “any impact on our income statements during this medium-term business plan (3/2025~3/2027) will be minimal”. The fact that Square Enix did not specify which titles had been cancelled led to a flurry of speculation among commenters on Japanese forums and social media, with many concerned about the fate of Dragon Quest 12 and future Final Fantasy titles. Some even jokingly suggested that the final part of the Final Fantasy VII Remake trilogy would be released as a novel. 

However, a report by Bloomberg today has confirmed that Dragon Quest 12 is still under development and that despite initial sales being lower than expected, Square Enix remains confident about FF16 achieving its targets over the 18-month period. In addition, Square Enix’s mid-term business strategy emphasizes expanding and retaining “fan bases for our major franchises,” as well as to “explore additionally leveraging our Group’s rich library of IP.” This suggests that Square Enix will still focus on its well-known and beloved intellectual properties (such as Final Fantasy and Dragon Quest). It is more likely that the cancelled titles are so-called SD (Standard Definition) games (which experienced a slowdown last year) and AAA titles not deemed viable under Square Enix’s plan to deliver “ensured ‘Fun.’” With Square Enix’s new mid-term business plan focusing on in-house development, it is possible that some of the cancelled projects were unannounced games by outside studios.