Square Enix developing another MMOG - Report

Square Enix is working on at least one new massively multiplayer online role-playing game, according to reports out of Japan. Today, gaming blog Andria Sang translated comments made by CEO Yoichi Wada during a conference call following the company's May 13 earnings report. The just-released transcript of the call says that Wada wants his company to operate two to three "large-scale" MMOGs at the same time in order to promote "stable cash flow."

Wada apparently hopes to announce Square Enix's next MMOG during its current fiscal year, which ends on March 31, 2012. The company is already operating two massively multiplayer online role-playing games: The aging Final Fantasy XI and Final Fantasy XIV Online, which debuted last year to lackluster reviews. Last December, the leadership team behind the project was removed and its PlayStation 3 version was indefinitely delayed.

Wada's statements came after Square Enix reported dismal earnings for its past fiscal year, which ended on March 31, 2011. Earlier this month, the company told its shareholders to brace for "extraordinary losses" of $148 million due to project cancellations and the Great East Japan Earthquake that hit this past March.