Square Enix

Square Enix is a Japanese video game developer and publisher headquartered in Shinjuku, Tokyo, formed in April 2003 through the merger of Square and Enix. Square was the developer of Final Fantasy and Enix the publisher of Dragon Quest, making the merger a combination of the two biggest JRPG franchises in history. The combined company has since expanded through acquisitions including Taito in 2005 and Eidos Interactive in 2009, adding Tomb Raider, Deus Ex, and Thief to its catalog before selling those Western studios to Embracer Group in 2022. Square Enix now operates primarily around its Japanese RPG catalog and live service titles.

Kingdom Hearts was one of those games I did not expect to love as much as I did. Combining Disney worlds with Final Fantasy characters sounds like it should not work, but somehow it absolutely does.

Final Fantasy

Final Fantasy launched in December 1987 as Square’s last-ditch attempt to save the company from bankruptcy, named because its creator Hironobu Sakaguchi believed it would be his final project if it failed. It succeeded, spawning one of the longest-running RPG franchises in history with sixteen mainline numbered entries and dozens of spin-offs. The series has sold over 173 million copies worldwide. Final Fantasy VII in 1997 is the best-selling single entry and one of the most influential games ever made, credited with bringing JRPGs to a mainstream Western audience. Final Fantasy XIV, originally a failed 2010 launch, was relaunched as A Realm Reborn in 2013 under producer Naoki Yoshida and became one of the most successful MMOs in the world. Final Fantasy VII Remake released in April 2020 and Final Fantasy VII Rebirth in February 2024, splitting the remake into a multi-part project that reimagines the original story with significant new content. Final Fantasy XVI released in June 2023 as a more action-focused entry set in a dark fantasy world.

Dragon Quest

Dragon Quest launched in Japan in 1986, developed by Chunsoft and published by Enix, and is one of the most beloved RPG franchises in Japan’s history. The series follows a traditional turn-based JRPG structure across twelve mainline entries, with character designs by Dragon Ball creator Akira Toriyama until his death in March 2024. Dragon Quest XI: Echoes of an Elusive Age in 2017 was the most internationally successful entry in decades, selling over seven million copies. Dragon Quest XII: The Flames of Fate is in development but has not received a release date.

Kingdom Hearts

Kingdom Hearts debuted in March 2002, a collaboration between Square and Disney that cast original protagonist Sora alongside Disney characters across worlds drawn from Disney films. Directed by Tetsuya Nomura, the series blended action-RPG combat with an increasingly complex mythology spanning multiple platforms. Kingdom Hearts II in 2005 expanded the story and is broadly considered the series peak. Kingdom Hearts III released in January 2019 after a fourteen-year wait for a numbered sequel. The franchise has sold over 35 million copies across all entries.

The Eidos Acquisition and Western Studios

Square Enix acquired Eidos Interactive in 2009 for approximately £84 million, adding Tomb Raider, Deus Ex, Thief, Legacy of Kain, and the studios behind them including Crystal Dynamics and Eidos-Montréal. The Western studios produced Tomb Raider (2013), Rise of the Tomb Raider (2015), Shadow of the Tomb Raider (2018), the Deus Ex: Human Revolution revival, and Marvel’s Guardians of the Galaxy before Square Enix sold the entire Western portfolio to Embracer Group in May 2022 for $300 million. The company cited a desire to refocus on blockchain gaming and its Japanese catalog, a strategic pivot that was widely criticized and subsequently walked back when blockchain gaming failed to materialize.

Current Focus and Recent Developments

Following the Embracer sale and the disappointing performance of several titles including Babylon’s Fall and Forspoken, Square Enix announced a restructuring in 2024 focused on reducing the number of titles in development and concentrating resources on its core franchises. The company has also pulled back from its earlier blockchain gaming ambitions. Final Fantasy VII Rebirth, Dragon Quest III HD-2D Remake, and Dragon Quest XII remain the most anticipated near-term releases. Naoki Yoshida continues to oversee Final Fantasy XVI and Final Fantasy XIV, while the next mainline numbered Final Fantasy has not been announced.