Square Enix Announces Merge With Tokyo RPG Factory Studio

Square Enix has announced a merge with their internal studio Tokyo RPG Factory. The group had previously worked on some JRPG projects, but its mother company has now absorbed its assets and liabilities.

Square Enix founded Tokyo RPG Factory in 2014 as a studio specialized in console RPG development. The group’s first game was I Am Setsuna, which came out on PlayStation 4 and PlayStation Vita in 2016.

Due to the handheld system’s bad performance outside Japan, Square Enix didn’t bring the Vita version west. At the time, director Atsushi Hashimoto commented that they’d only consider it if there was enough demand.

Their second title, Lost Sphear, came out on PlayStation 4 in October 2017 in Japan. Its western release would come only on January 22, 2018.

Finally, their last game was Oninaki. While the other games were turn-based RPGs with an active time battle system, their final title was an action RPG. It came out on PlayStation 4 on August 22, 2019.

Unfortunately, their last title had mixed reception in the west and sold poorly, leading to net loss in their financial report for 2019.