Square Enix boss leaves amid poor financial results

Square Enix has confirmed that president Yoichi Wada has left the company, and announced an "extraordinary loss" for the financial year.

Wada had been the company president for 13 years but he's now been replaced by former boss Yosuke Matsuda.

The poor financial results are being blamed on lower than expected sales of console games in the West.

Now a huge amount of money - 10 billion yen (£69.87million GBP) - will be put into major reforms and restructuring of the company.

Square Enix had forecast to make 3.5 billion yen (£24.4million GBP) profit this year, but will instead make a 13 billion yen (£90million GBP) loss.

Upcoming games published by Square Enix include Lightning Returns: Final Fantasy 13 and MMO Final Fantasy 14: A Realm Reborn.