Corporate News

Weirdness: Developer Marvelous AQL's New Logo Certainly Makes an Impact

Developer Marvelous AQL's New Logo Certainly Makes an Impact

For better or for worse

While many developers are worshiped by an army of dedicated fans, others are met with humble logo recognition while players hammer at the start button waiting for a main menu to appear. Marvelous AQL, the developer of niche titles such as New Little King's Story and co-developer of the grotesque Soul Sacrifice, may fall into...

News: Sony Drops Data Loss Appeal, Will Have to Pay £250k Fine

Sony Drops Data Loss Appeal, Will Have to Pay £250k Fine

Chunk of change

Remember when the Information Commissioner’s Office in the UK fined Sony a whopping £250,000 for the PlayStation Network hack in 2011? At the time, the platform holder said that it planned to fight the charges – but it’s since dropped the case, meaning that the firm will be forced to cough up the extortionate sum. "After...

News: Sony Doubles Profit Forecasts Ahead of Financial Report

Sony Doubles Profit Forecasts Ahead of Financial Report

Holding out for a Hirai

After years of reporting on Sony’s slumping sales, it looks like the company may finally be on the ascension. Games Industry.biz notes that the Japanese conglomerate has doubled its profit forecast for the fiscal year that ended on 31st March, raising the tally from ¥20 billion ($201m) to ¥40 billion ($403m). That’s a...

News: Yoichi Wada Exits Square Enix Following 'Extraordinary Loss'

Yoichi Wada Exits Square Enix Following 'Extraordinary Loss'

Final Fantasy maker down on its luck

John Riccitiello is not the only high-profile video game executive to be heading for the exit door, as Square Enix gaffer Yoichi Wada has been ousted from the company following a dire financial forecast for its current fiscal year. The outgoing boss had been in the job since 2000, but he’ll now be replaced by...

News: Sony Selling Its New York Headquarters for $1.1 Billion

Sony Selling Its New York Headquarters for $1.1 Billion

Chunk of change

In a move that has seen the company’s share prices surge by a whopping 12 per cent, Sony has announced that it has agreed to sell its New York headquarters to the Chetrit Group for a whopping $1.1 billion. The electronics manufacturer will continue to operate out of the 37-story building for the next three years, after which it...

News: Sony's Stocks Downgraded to 'Junk' By Credit Ratings Agency

Sony's Stocks Downgraded to 'Junk' By Credit Ratings Agency

Make believe?

Credit ratings agency Fitch has downgraded Sony’s stocks to ‘junk’ status, according to a report by the Financial Times. The firm dropped the conglomerate’s investment-grade score to BB-, indicating that the company is vulnerable to defaulting on debt. Fellow manufacturer Panasonic was reduced to BBB-. “This wasn't an easy...

News: Sony Is Slashing 2,000 Jobs in Japan

Sony Is Slashing 2,000 Jobs in Japan

Cost cutting

Sony has announced that it will cut 2,000 jobs in Japan via an “early retirement” scheme. The Next Web notes that the cuts are set to affect the company’s head office the hardest, with 20 per cent of employees set to depart by the end of the year. The move will apparently save the manufacturer a whopping ¥30 billion (roughly $378...

News: Kaz Hirai's Custom PS3 Will Probably Make You Jealous

Kaz Hirai's Custom PS3 Will Probably Make You Jealous

Parting gifts

Earlier this week, new Sony president Kaz Hirai formally announced his departure from the SCE board. In order to celebrate his services to the division, the company held a leaving party for the busy executive in Japan earlier this afternoon. At the event, Hirai was presented with a bouquet of flowers and a custom PlayStation 3...

News: Andrew House Stresses the Importance of United Sony

Andrew House Stresses the Importance of United Sony

Sticking together

Sony is not in a good position. While core elements of its business – including the PlayStation division – are ticking over nicely, the company as a whole is bleeding money. The worry for Sony is that it’s been struggling for a while. But while the company's situation is becoming all too familiar from the outside, key...

News: thatgamecompany Raises $5.5 Million, Goes Fully Independent

thatgamecompany Raises $5.5 Million, Goes Fully Independent

Travelling alone

Journey developer thatgamecompany has announced that it has raised $5.5 million in funding – allowing it to cut its ties with Sony, and go fully independent for the first time since its formation. Earlier in the year, we revealed that the creative studio was looking to move beyond PlayStation. Speaking specifically about the...