Updated Mar 21, 2026 by Square Enix
The merger of Square Co., Ltd. and Enix Corporation resulted in record-high financial performance for FY2004, yielding consolidated net sales of ¥63,202 million and a 30.7% operating margin.
The online gaming segment achieved a critical turnaround, moving from an operating loss to a profit of ¥2,348 million, primarily driven by the global expansion of Final Fantasy XI.
Offline games remained the company's primary revenue driver at ¥37,988 million, while the publication segment saw significant growth bolstered by the Fullmetal Alchemist series.
The company adopted a 'polymorphic content' strategy to maximize intellectual property value across multiple platforms, including mobile and network-based digital entertainment.
Overseas revenue grew to nearly 30% of total sales, supported by the establishment of internal distribution channels in North America and the $58 million acquisition of middleware developer UIEvolution.
Despite the bankruptcy of affiliate Digicube and associated impairment losses, the company maintained a strong financial foundation with an 87.4% shareholders' equity ratio.
The merger of Square Co., Ltd. and Enix Corporation resulted in record-high financial performance for FY2004, yielding consolidated net sales of ¥63,202 million and a 30.7% operating margin.
The online gaming segment achieved a critical turnaround, moving from an operating loss to a profit of ¥2,348 million, primarily driven by the global expansion of Final Fantasy XI.
Offline games remained the company's primary revenue driver at ¥37,988 million, while the publication segment saw significant growth bolstered by the Fullmetal Alchemist series.
The company adopted a 'polymorphic content' strategy to maximize intellectual property value across multiple platforms, including mobile and network-based digital entertainment.
Overseas revenue grew to nearly 30% of total sales, supported by the establishment of internal distribution channels in North America and the $58 million acquisition of middleware developer UIEvolution.
Despite the bankruptcy of affiliate Digicube and associated impairment losses, the company maintained a strong financial foundation with an 87.4% shareholders' equity ratio.