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Square Enix president Yoich Wada to step down

Square Enix released a statement that its current president Yoich Wada is resigning. The publisher has also forecast an loss for the current financial year.

Wada is replaced by current representative director Yokuse Matsuda. 

Square Enix says: "Such change is subject to a resolution by its 33rd annual general meeting of shareholders to be held in late June, 2013, and a resolution by its board of directors meeting to be held after the said meeting of shareholders."

The publisher also said: "In view of the rapidly changing environment of the game businesses, the company has decided to implement major reforms and restructuring in its development policy, organizational structure, some business models, and others.

" The Company expects to incur extraordinary loss about loss from restructuring in the settlement of the account for its fiscal year ending March 31, 2013.”   

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