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1

July 28, 2003 - July 30, 2003

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2

          Statements made in this document with respect to SQUARE ENIX CO., LTD. and consolidated
subsidiaries' (together, "SQUARE ENIX") plans, estimates, strategies and beliefs, including any forecasts or
projections, are forward-looking statements about the future performance of SQUARE ENIX.
          These statements are based on management's assumptions and beliefs in light of information
available to it at the time these material were drafted and, therefore, the reader should not place undue
reliance on them. Also, the reader should not assume that statements made in this document will remain
accurate or operative at a later time.
          A number of factors could cause actual results to be materially different from and worse than those
discussed in forward-looking statements. Such factors include, but are not limited to:
 1.  changes in economic conditions affecting our operations;
 2.  fluctuations in currency exchange rates, particularly with respect to the value of the Japanese yen, the
U.S.  dollar and the Euro;
 3.  our ability to continue to win acceptance of our products and services, which are offered in highly
competitive markets characterized by the continuous introduction of new products and services, rapid
developments in technology, and subjective and changing consumer preferences;
 4.  our ability to expand internationally successfully with a focus on our digital content business, online
business and mobile business; and
 5.  regulatory developments and changes and our ability to respond and adapt to those changes.
          The forward-looking statements regarding earnings contained in these materials were valid at the
time these material were drafted. SQUARE ENIX assumes no obligation to update or revise any forward-
looking statements, including forecasts or projections, whether as a result of new information, subsequent
events or otherwise.
          These statements are included pro-forma for historical data reflect the aggregation of former two
companies' operating results (former ENIX and former SQUARE).

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3

1. 

1. 

Who is SQUARE ENIX?

Who is SQUARE ENIX?

2. 

2. 

Where are we playing?

Where are we playing?

3. 

3. 

Our business strategy

Our business strategy

Table of Contents

Table of Contents

Appendices

Appendices

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4

Business Strategy

Business Strategy

 

 

Graph9

Graph9

Who is SQUARE ENIX?

Who is SQUARE ENIX?

We are the leading digital

We are the leading digital

content company.

content company.

Our original, quality products

Our original, quality products

generate high profitability.

generate high profitability.

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5

(as of March 31, 2003)

(Thousand units)

0

1,000

2,000

3,000

4,000

5,000

6,000

7,000

8,000

9,000

10,000

FFCollection(NES&PS)

FFX&X-2 (PS2)

FFIX (PS)

FFVIII (PS&PC)

FFVII (PS&PC)

FFVI (SNES&PS)

FFV (SNES&PS)

FFIV (SNES&PS&Other)

FFIII (NES)

FFII (NES&PS&Other)

FF (NES&PS&Other)

Japan

Abroad

SQEX holds 2 of most successful game franchises in Japan,

SQEX holds 2 of most successful game franchises in Japan,

Sold over 45 million units worldwide

Sold over 45 million units worldwide

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6

0

1,000

2,000

3,000

4,000

5,000

6,000

DQMC (GBA)

DQM1&2 (PS)

DQM2 (GB)

DQM (GB)

DQVII (PS)

DQVI (SNES)

DQV (SNES)

DQIV (NES&PS)

DQIII (NES&SNES&GB)

DQI&II (SNES&GB)

DQII (NES)

DQ (NES)

Japan

Abroad

(as of March 31, 2003)

(Thousand units)

SQEX holds 2 of most successful game franchises in Japan,

SQEX holds 2 of most successful game franchises in Japan,

Sold over 30 million units worldwide

Sold over 30 million units worldwide

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7

* Ranked by unit sales of top 30 selling console game software (excluding handheld types)
   in each fiscal year during FY1998 through 2002.

10,005

2,194

2,838

5,004

7,131

8,036

8,631

13,600

17,698

25,027

0

5,000

10,000

15,000

20,000

25,000

Other

SEGA

KOEI

NAMCO

CAPCOM

BANDAI

SCE

KONAMI

NINTENDO

SQUARE ENIX

(Thousand Units)

SQUARE ENIX

SQUARE ENIX

…

…

which makes SQEX the No.1 game seller in Japan.

which makes SQEX the No.1 game seller in Japan.

(Source:Media Create Co., Ltd.)

Unit Sales of Game Console Software*

Unit Sales of Game Console Software*

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8

448

587

665

842

923

1,093

1,225

1,403

2,002

2,412

2,037

1,040

0

500

1,000

1,500

2,000

2,500

INFOGRAM ENTERTAINMENT(EU)

CAPCOM(JP)

THQ(US)

NCSOFT CORPORATION(KR)

NAMCO(JP)

ACTIVISION(US)

TAKE-TWO INTERACTIVE SOFTWARE(US)

KOEI(JP)

SEGA(JP)

BANDAI(JP)

KONAMI(JP)

ELECTRONIC ARTS(US)

NINTENDO(JP)

SQUARE ENIX

11,034

11,926

(Millions of U.S.$)

SQUARE ENIX(JP)

SQUARE ENIX(JP)

(Exchange Rate:USD1=JPY119/USD1=EUR1.15/USD1=KRW1,180)

(Source:Bloomberg Data compiled by SQUARE ENIX)

SQEX is the 4th largest digital content company in the world.

SQEX is the 4th largest digital content company in the world.

Market Cap (as of July 23, 2003)

Market Cap (as of July 23, 2003)

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9

Original

Contents

SQEX single-mindedly focuses on creating original products,

SQEX single-mindedly focuses on creating original products,

Third Party Studios

Plan

Scenario

Music/Sound

2D/3D CG

Programming

Books

Online Game

Music CD

Console Game

Mobile Game

Video (TV/Movie/DVD)

Quality

Assurance

Quality

Assurance

SQEX retains all
intellectual
property rights.

SQEX internally holds all functions necessary to
create original products of the highest quality.

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14.5

25.5

61.5

13.4

17.0

42.0

12.3

13.8

24.0

31.0

25.4

14.9

20.8

(0.1)

0.0

10.0

20.0

30.0

40.0

50.0

60.0

INFOGRAM ENTERTAINMENT(EU)

CAPCOM(JP)

THQ(US)

NCSOFT CORPORATION(KR)

NAMCO(JP)

ACTIVISION(US)

TAKE-TWO INTERACTIVE SOFTWARE(US)

KOEI(JP)

SEGA(JP)

BANDAI(JP)

KONAMI(JP)

ELECTRONIC ARTS(US)

NINTENDO(JP)

SQUARE ENIX

(%)

SQUARE ENIX(JP)

SQUARE ENIX(JP)

(

(

former ENIX + former SQUARE)

former ENIX + former SQUARE)

(Source:Bloomberg Data compiled by SQUARE ENIX)

…

…

which contributes to 

which contributes to 

SQEX

SQEX

’

’

s

s

 high profitability,

 high profitability,

EBITDA Margin (in Current Fiscal Year)

EBITDA Margin (in Current Fiscal Year)

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10.9

5.1

49.8

6.1

15.5

40.0

19.9

(9.1)

10.6

4.7

(8.6)

21.7

27.7

11.0

-10.0

0.0

10.0

20.0

30.0

40.0

50.0

CAPCOM(JP)

THQ(US)

NCSOFT CORPORATION(KR)

NAMCO(JP)

ACTIVISION(US)

TAKE-TWO INTERACTIVE SOFTWARE(US)

KOEI(JP)

SEGA(JP)

BANDAI(JP)

ELECTRONIC ARTS(US)

NINTENDO(JP)

SQUARE ENIX

(%)

SQUARE ENIX(JP)

SQUARE ENIX(JP)

(

(

former ENIX + former SQUARE)

former ENIX + former SQUARE)

Operating Margin (in Current Fiscal Year)

Operating Margin (in Current Fiscal Year)

more,

more,

KONAMI(JP)

INFOGRAM ENTERTAINMENT(EU)

(Source:Bloomberg Data compiled by SQUARE ENIX)

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12

32.9

4.3

24.8

14.6

3.6

7.4

3.2

11.3

20.9

20.1

12.9

-20.0

-10.0

0.0

10.0

20.0

30.0

THQ(US)

NCSOFT CORPORATION(KR)

NAMCO(JP)

ACTIVISION(US)

TAKE-TWO INTERACTIVE SOFTWARE(US)

KOEI(JP)

SEGA(JP)

BANDAI(JP)

ELECTRONIC ARTS(US)

NINTENDO(JP)

SQUARE ENIX

(24.6)

(35.3)

(34.2)

ROE (in Current Fiscal Year)

ROE (in Current Fiscal Year)

(%)

SQUARE ENIX(JP)

SQUARE ENIX(JP)

(

(

former ENIX + former SQUARE)

former ENIX + former SQUARE)

and further more.

and further more.

KONAMI(JP)

CAPCOM(JP)

(Source:Bloomberg Data compiled by SQUARE ENIX)

INFOGRAM
ENTERTAINMENT(EU)

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Where are playing?

Where are playing?

US/European console-based game markets are

US/European console-based game markets are

growing, while Japanese market saturates.

growing, while Japanese market saturates.

Fundamental Shift in Customer Ownership

Fundamental Shift in Customer Ownership

Online/Mobile will become an integral part of

Online/Mobile will become an integral part of

the digital content business

the digital content business

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Online/Mobile as an integral part of the digital content business

Online/Mobile as an integral part of the digital content business

0.0

1.0

2.0

3.0

2001

2002

2007E

(Billions of USD)

0.0

0.5

1.0

1.5

2.0

2.5

2001

2002

2007E

(Billions of USD)

Japanese PC Online Content Market

Japanese PC Online Content Market

Japanese Mobile Content Market

Japanese Mobile Content Market

(Source:Ministry of Public Management, Home Affairs, Posts and Telecommunications, Japan

“

WHITE PAPER 2003 Information and Communications in Japan

‚ÄĚ

)

(Exchange Rate:USD1=JPY120)

x2.0

x2.0

X3.2

X3.2

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Now

Now

Future

Future

Ubiquitous access

Ubiquitous access

and

and

open network

open network

- 

- 

Vertically integrated

Vertically integrated

- Terminal makers hold

- Terminal makers hold

  customer ownership

  customer ownership

- 

- 

Boundaries diminishing

Boundaries diminishing

- Content providers hold

- Content providers hold

  customer ownership

  customer ownership

Fundamental Shift in Customer Ownership

Fundamental Shift in Customer Ownership

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World Game Console Software Market

World Game Console Software Market

US/European markets growing, while Japanese market saturates

US/European markets growing, while Japanese market saturates

0

5,000

10,000

15,000

FY1994 1995

1996

1997

1998

1999

2000

2001

2002

2003E 2004E

(Millions of USD)

(Source:Company data collated by SQUARE ENIX)

*FY2002 = Fiscal Year Ended March 31,2003

Europe&Other

Europe&Other

North America

North America

Japan

Japan

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Our Business Strategy

Our Business Strategy

Continue to exploit

Continue to exploit

current franchise in

current franchise in

cost-efficient manner

cost-efficient manner

Enhancement of

Enhancement of

Global Business

Global Business

Expansion into

Expansion into

Online/Mobile

Online/Mobile

Segments

Segments

Strategic Initiative

Strategic Initiative

In summary, SQEX

’

s goal is to become an innovative and creative

leader in the global digital content industry.  In this promising market,
SQEX will be able to capture growth and profitable opportunities.

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 SQEX continues to exploit its

current franchise, among
others, 

FINAL FANTASY 

and

DRAGON QUEST.

 

FINAL FANTASY X-2

, the first

sequel to 

FINAL FANTASY X

in the 

FINAL FANTASY

 series,

has been extremely profitable,
proving the advantage of
such methodology.

 

FINAL FANTASY XII

, 

DRAGON

QUEST VIII

 and other multi

million-seller series are in the
pipeline for the next two
years.

 SQEX employs cost-efficient

development methodologies,
such as reusing existing
digital content assets.

Our Business Strategy

Our Business Strategy

Continue to exploit current franchise in cost-efficient manner

Continue to exploit current franchise in cost-efficient manner

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Enhancement of Global Business

Enhancement of Global Business

Our Business Strategy

Our Business Strategy

C
H

I

N
A

E

U
R

U

S

A

- Growth and profit

opportunities in
the global market

- SQEX products

’

proven appeal for
global market

- SQEX

’

s stable

supply of quality
products

Reconstructs own

distribution channel.

Resumes publishing

own digital content
products in major
countries.

Has been providing

online game service
through joint venture
company

Marketing
and
distribution
are crucial
for success

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Our Business Strategy

Our Business Strategy

Expansion into Online Segments

Expansion into Online Segments

Title

Provider

Since

# of Subscribers

Service Areas

Final¬†Fantasy¬†XI¬† SQUARE¬†ENIX

2002/5

282K *1
105K *2
617K *3

Japan only

 (soon U.S.)

EverQuest

Sony Online
Entertainment

1999/3

118K *2
430K *5

U.S., Europe,

Korea, Japan, etc.

UltimaOnline

Electronic Arts

1997/10

250K *5

U.S., Europe,

Korea, Japan, etc.

Cross Gate

SQUARE ENIX

2001/7

10M *4

Japan,

China &

Taiwan

Lineage

NC Soft

1998/9

300K *2

3.2M *5

Korea, Taiwan,

U.S. & Japan

RAGNAROK
Online

Gravity

2001/11

2.5M *4

Korea, Taiwan,

China & Japan

The Regend of
Mir2

Wemade
Entertainment

2001/3

280K *2

Korea, China

&Taiwan

*1: Registered Subscribers
*2: Concurrent Users
*3: Subscribed Characters
*4: Cumulative Subscribers
*5: Active Subscribers

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21

Our Business Strategy

Our Business Strategy

Expansion into Mobile Segments

Expansion into Mobile Segments

Choco-Mate

Choco-Mate

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22

Integrated Cross-Media Digital Contents

Original Contents

Online
Game

Mobile
Game

Cross-
Media
Game

Music

CD/DVD

Non-
interactive
Movie

Interactive
Movie

Mobile
Phone
Wallpaper

Avatar

Publishing

Community
Magazine

Our Business Strategy

Our Business Strategy

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Estimated Revenue and Operating Income (FY2003*)

* Fiscal Year to be ended on March 31, 2004

Mid-term Segment Image

Mid-term Segment Image

(Million of USD: 1USD=¥120)

Segment

Area

Revenue

Sub-total

(a)

Operating

Income (b)

%

(b/a)

Japan

217

North America

83

Europe

21

Japan

63

North America

8

Asia

13

12

43%

23

31%

4

26%

(41)

-

152

29%

Publishing (Book & Magazine)

Other

Total

Mobile

Eliminations

41%

28%

Console

Game

Software

321

Online Game

84

131

23

72
16

522

29

-

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24

Mid-term Segment Image

Mid-term Segment Image

FY2003E

Mid-term

image

Console Game

Console Game

Software

Software

Online Game

Online Game

Mobile

Mobile

Book/Magazine

Book/Magazine

Other

Other

Japan

Japan

US

US

EUR

EUR

Japan

Japan

US

US

Asia

Asia

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25

< 

< Appendices

 >

 >

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26

Name:

Name:

SQUARE ENIX CO., LTD.

SQUARE ENIX CO., LTD.

Headquartered in:

Headquartered in:

Shibuya-ku

Shibuya-ku

, Tokyo, Japan

, Tokyo, Japan

Date of closing accounts:

Date of closing accounts:

March 31

March 31

Listed on:

Listed on:

The First Section of the

The First Section of the

Tokyo Stock Exchange

Tokyo Stock Exchange

Market Capitalization:

Market Capitalization:

ÔŅ•

ÔŅ•

242,430 million 

242,430 million 

(as of July 23, 2003)

(as of July 23, 2003)

Common Stock:

Common Stock:

ÔŅ•

ÔŅ•

6,940 million 

6,940 million 

(as of July 23, 2003)

(as of July 23, 2003)

Number of Shares issued:

Number of Shares issued:

109,945,618 

109,945,618 

(as of July 23, 2003)

(as of July 23, 2003)

Number of employees:

Number of employees:

1,293 

1,293 

(as of June 30, 2003)

(as of June 30, 2003)

Directors: 

Directors: 

Yasuhiro Fukushima

Yasuhiro Fukushima

 (Rep. Director & Chairman)

 (Rep. Director & Chairman)

Yoichi Wada

Yoichi Wada

 (Rep. Director & President)

 (Rep. Director & President)

Keiji

Keiji

 Honda

 Honda

 (Rep. Director & Vice President)

 (Rep. Director & Vice President)

Yukinobu 

Yukinobu 

Chida

Chida

Hisashi

Hisashi

 Suzuki

 Suzuki

Makoto Naruke

Makoto Naruke

 (President and CEO of Inspire

 (President and CEO of Inspire

 Corporation, former President of

 Corporation, former President of

 Microsoft Japan )

 Microsoft Japan )

URL:

URL:

http://www.

http://www.

square-enix

square-enix

.co.

.co.

jp

jp

/

/

      Two of the digital content industry

’

s leading

companies, 

ENIX CORPORATION

ENIX CORPORATION (ENIX) and 

SQUARE

SQUARE

CO., LTD. 

CO., LTD. (SQUARE), merged on April 1, 2003  to form
a new company, 

SQUARE ENIX CO., LTD.

SQUARE ENIX CO., LTD. (SQUARE

ENIX).
      Headquartered in Tokyo, Japan, SQUARE ENIX
develops, publishes and distributes advanced digital
contents including interactive entertainment software
and publications in Japan, North America, Europe and
Asia.
      SQUARE ENIX brings two of Japan

’

s best-selling

franchises - 

FINAL FANTASY

FINAL FANTASY

, which has sold over 45

million units worldwide, and 

DRAGON QUEST

DRAGON QUEST

 (

 (

DRAGON

WARRIOR

 in North America), which has sold over 30

million units worldwide - under one roof.  SQUARE
ENIX is now the fourth largest digital content company
in the world in terms of market capitalization, going
after two big players in the industry, Electronic Arts
and Nintendo.
      SQUARE ENIX

’

s commitment to creating original

products of the highest quality makes it one of the top
3 digital content companies in the world in terms of
profitability.
      SQUARE ENIX is broadening its business horizons
to online/mobile and other promising areas.

Corporate Profile

Corporate Profile

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27

Yoichi Wada

President

      Yoichi Wada, born in 1959, is the president of SQUARE
ENIX.
      Prior to current role at SQUARE ENIX, Mr. Wada was
named positions in SQUARE, as CFO in June 2000, COO in
September 2001, and President and CEO in December 2001.
Immediately after joining SQUARE, Mr. Wada got to work
on reorganization and revitalization of the company.  As a
result of the reform of the management system, SQUARE

’

s

profitability has recovered dramatically for a short period of
time, and the company recorded the highest operating
margin in its history in fiscal year 2002.  In April 2003,
under Mr. Wada

’

s leadership, the merger between ENIX and

SQUARE was accomplished with a strategic intent to be
well prepared for coming changes in the digital content
industry.
      Prior to joining SQUARE, Mr. Wada had been
developing his career with Nomura Securities Co., Ltd.
since 1984.  He served in Corporate Strategy Division,
Investment Banking Division, and Controller Division.

 

He

played a key role in introducing of consolidated
managerial accounting system and risk management
system in Nomura Securities companies worldwide.  Mr.
Wada received a bachelor

’

s degree in law from The

University of Tokyo.

Management Profile

Management Profile

background image

28

-5,000

0

5,000

10,000

15,000

FY1998 1999

2000

2001

2002

-15.0

0.0

15.0

30.0

45.0

Operating Income

Net Income

Operating Margin

ňú

ňú ňú

(Millions of Yen)

(%)

(FY2002 = Fiscal Year Ended March 31, 2003)

- FY2000  CFO

  SQUARE listed on the first section of Tokyo Stock
Exchange
¬†¬†----- reformed¬†management¬†system

- FY2001  COO, President and CEO

  1. Overhauled Balance Sheet
¬†¬†----- one-time¬†charge¬†of¬†asset¬†impairments¬†in¬†the

film making business

¬†¬†----- negotiated¬†investment¬†from¬†Sony¬†Computer

Entertainment Inc.

  2. Recovery to profitability
¬†¬†----- introduced¬†business¬†unit¬†system¬†to¬†product

development

¬†¬†----- reorganized¬†the¬†product¬†development¬†lines
  3. Rationalization of group companies
¬†¬†----- partially¬†sold¬†DigiCube¬†share,¬†where¬†DigiCube

shares became an investment in
associated/affiliated companies

¬†¬†----- closed¬†SQUARE¬†U.S.A.¬†INC.
¬†¬†----- bought¬†back¬†three¬†subsidiaries¬†into¬†SQUARE

headquarters

- FY2002

   

----- reported¬†record¬†profit¬†in¬†history¬†of¬†SQUARE

¬†¬†----- resumed¬†business¬†with¬†Nintendo¬†after¬†6¬†year

blank

¬†¬†----- announced¬†merger¬†between¬†ENIX¬†and¬†SQUARE
¬†¬†----- dissolved¬†joint¬†venture¬†between¬†ELECTRONIC

ARTS and SQUARE

ňú

16,554

Game software unit shipments (Thousand units)

8,640

9,700 10,320 7,920 10,470

Former SQUARE historical results

FY1998 1999

2000

2001

2002

Mr

Mr

.Wada played a key role in

.Wada played a key role in

 SQUARE

 SQUARE

’

’

s

s

 turn-around

 turn-around

background image

29

Reference. Financial performance of former companies

Reference. Financial performance of former companies

Shareholders

’

 Equity

(Millions of Yen)

Equity Ratio

(%)

Former ENIX

Former SQUARE

90.9

76.0

55.3

52.1

74.7

69.4

86.4

87.7

88.4

53.7

50.0

60.0

70.0

80.0

90.0

100.0

FY1998

FY1999

FY2000

FY2001

FY2002

(one-time charge of impairments
in the film making business &
negotiated investment from SCEI)

FY1998ňú2000¬†data¬†for¬†former¬†ENIX¬†were¬†on¬†parent¬†company¬†basis

32,417

29,666

37,727

37,670

46,979

48,565

49,647

30,901

27,687

35,538

0

10,000

20,000

30,000

40,000

50,000

60,000

FY1998

FY1999

FY2000

FY2001

FY2002

background image

30

Operating Income

(Millions of Yen)

4.6

(3.6)

21.1

44.9

31.9

21.4

31.7

10.9

11.1

32.7

-10.0

0.0

10.0

20.0

30.0

40.0

50.0

FY1998

FY1999

FY2000

FY2001

FY2002

Operating Margin

(%)

Former ENIX

Former SQUARE

FY1998ňú2000¬†data¬†for¬†former¬†ENIX¬†were¬†on¬†parent¬†company¬†basis

Reference. Financial performance of former companies

Reference. Financial performance of former companies

4,488

3,867

20,333

7,405

4,603

12,594

(2,922)

8,260

5,485

7,964

-5,000

0

5,000

10,000

15,000

20,000

25,000

FY1998

FY1999

FY2000

FY2001

FY2002

background image

31

Titles of game software with worldwide shipments exceeding 1 million copies

Titles of game software with worldwide shipments exceeding 1 million copies

(As of March 31, 2003)

‚ÄĽ

To be released

Title (in Japan)

Platform

Japan

Abroad

Total

FINAL FANTASY VII

PS/PC

3,900

5,440

9,340

FINAL FANTASY VIII

PS/PC

3,700

4,450

8,150

DRAGON QUEST III

NES/SNES/GB

5,950

-n.a.-

5,950

FINAL FANTASY X

PS2

2,870

3,020

5,890

FINAL FANTASY IX

PS

2,790

2,290

5,080

DRAGON QUEST IV

NES/PS

4,300

-n.a.-

4,300

DRAGON QUEST VII

PS

4,110

-n.a.-

4,110

FINAL FANTASY VI

SNES/PS

2,620

860

3,480

Kingdom Hearts

PS2

1,250

2,050

3,300

DRAGON QUEST VI

SNES

3,200

-n.a.-

3,200

DRAGON QUEST V

SNES

2,800

-

2,800

Chrono Trigger

SNES/PS

2,360

290

2,650

FINAL FANTASY V

SNES/PS

2,620

-

2,620

DRAGON QUEST II

NES

2,400

-n.a.-

2,400

DRAGON QUEST MONSTERS

GB

2,350

-n.a.-

2,350

FINAL FANTASY TACTICS

PS

1,360

910

2,270

FINAL FANTASY IV

SNES/PS/Other

1,820

340

2,160

(Thousand Units)

Title (in Japan)

Platform

Japan

Abroad

Total

FINAL FANTASY X-2

PS2

2,000

‚ÄĽ

‚ÄÉ

-

2,000

FINAL FANTASY

NES/PS/Other

1,210

780

1,990

Parasite EVE

PS

1,050

890

1,940

DRAGON QUEST I

„ÉĽ

II

SNES/GB

1,920

-n.a.-

1,920

Seiken 

Densetsu 2

SNES

1,500

330

1,830

DRAGON QUEST MONSTERS 2

GB

1,570

-n.a.-

1,570

Chrono Cross

PS

850

650

1,500

DRAGON QUEST

NES

1,500

-n.a.-

1,500

Romancing SaGa 2

SNES

1,300

190

1,490

FINAL FANTASY III

NES

1,400

-

1,400

Malaitoushi SaGa

GB

1,150

220

1,370

Romancing SaGa

SNES

1,170

150

1,320

FINAL FANTASY II

NES/PS/Other

1,080

200

1,280

Xenogears

PS

910

280

1,190

Chocobo no Fushigina Dungeon

PS

1,140

-

1,140

Parasite EVE 2

PS

430

660

1,090

SaGa Frontier

PS

1,080

-

1,080

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32

The accompanying consolidated financial statements have been prepared in accordance with the provisions set forth in the
Japanese Securities and Exchange Law and its related accounting regulations, and in conformity with accounting principles and
practices generally accepted in Japan, which are different in certain respects as to application and disclosure requirements of
International Accounting Standards.  The consolidated financial statements are not intended to present the financial position,
results of operations and cash flows in accordance with accounting principles and practices generally accepted in countries and
jurisdictions other than Japan.
          In preparing these consolidated financial statements, certain reclassifications and rearrangements have been made to the
consolidated financial statements issued domestically in order to present them in a form which is more familiar to readers outside
Japan.
          The consolidated financial statements are stated in Japanese yen, the currency of the country in which ENIX
CORPORATION and SQUARE CO., LTD. are incorporated and operates.  The translations of Japanese yen amounts into U.S.
dollar amounts are included solely for the convenience of readers outside Japan and have been made at the rate of ¥120.20 to U.S.$1,
the approximate rate of exchange at March 31, 2003.  Such translation should not be construed as representations that the Japanese
yen amounts could be converted into U.S. dollars at that or any other rate.

Financial Data (JPNGAAP)

Financial Data (JPNGAAP)

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33

Balance Sheets

Balance Sheets

Former ENIX

Former ENIX

(FY2002 = Fiscal Year Ended March 31, 2003)

FY1998~2000 data for former ENIX were on parent company basis

Financial Data (JPNGAAP)

Financial Data (JPNGAAP)

(Thousands of U.S.$)

(Millions of Yen)

Liabilities, Minority Interest and Shareholders' Equity

FY2002

FY2002

2001

2000

1999

1998

Current Liabilities:

Accounts payable - trade

16,802 

2,019 

1,336 

2,832 

1,340 

1,129 

Accounts payable - other

32,708 

3,931 

2,911 

9,219 

1,460 

2,539 

Short-term loans payable

395 

Allowance for sales return

1,772 

213 

324 

554 

340 

369 

Accrued expenses and other

10,432 

1,254 

1,084 

2,010 

402 

758 

Total current liabilities

61,715 

7,418 

6,053 

14,616 

3,544 

4,796 

Long-term Liabilities:

Retirement allowance

833 

100 

104 

97 

73 

66 

Other non-current liabilities

1,137 

136 

129 

143 

139 

131 

Total non-current liabilities

1,970 

236 

233 

241 

212 

198 

Minority Interests

1,352 

162 

137 

Shareholders' Equity

Common stock

57,743 

6,940 

6,940 

6,940 

6,931 

6,845 

Additional paid-in capital

78,064 

9,383 

9,383 

9,383 

9,373 

9,288 

Retained earnings

277,383 

33,341 

32,400 

30,487 

21,365 

19,404 

Unrealized gain on securities

194 

23 

10 

168 

Foreign currency translation adjustments

359 

43 

59 

Treasury stock

(704)

(84)

(37)

Total shareholders' equity

413,040 

49,647 

48,757 

46,979 

37,670 

35,538 

TOTAL

478,079 

57,465 

55,181 

61,837 

41,427 

40,532 

(Thousands of U.S.$)

(Millions of Yen)

ASSETS

FY2002

FY2002

2001

2000

1999

1998

Current Assets:

Cash and deposits

331,506 

39,847 

42,280 

42,870 

29,351 

27,879 

Notes and account receivable

42,847 

5,150 

4,994 

9,533 

3,574 

4,602 

Inventories

3,099 

372 

536 

1,447 

480 

592 

Deferred tax assets

7,829 

941 

324 

957 

503 

Prepaid expenses and other current assets

922 

110 

153 

136 

993 

1,705 

Allowance for doubtful accounts

(82)

(9)

(25)

(36)

(17)

(29)

Total current assets

386,123 

46,412 

48,264 

54,909 

34,886 

34,751 

Property and Equipment:

Buildings and leasehold improvements

17,653 

2,121 

2,103 

2,081 

2,076 

2,076 

Machinery and equipment

13,925 

1,673 

1,679 

1,499 

1,286 

966 

Others

65 

Less accumulated depreciation

(16,703)

(2,007)

(1,845)

(1,487)

(1,240)

(975)

Land

28,222 

3,392 

3,392 

3,392 

3,392 

3,392 

Net property and equipment

43,163 

5,188 

5,337 

5,494 

5,522 

5,467 

Intangible Assets

1,655 

199 

102 

27 

10 

Investment and Other Assets:

Investment securities

20,108 

2,416 

614 

712 

422 

163 

Deferred tax assets

5,260 

632 

101 

23 

134 

Office lease deposits and other

21,768 

2,616 

761 

670 

450 

148 

Total investment and other assets

47,136 

5,665 

1,477 

1,406 

1,007 

311 

TOTAL

478,079 

57,465 

55,181 

61,837 

41,427 

40,532 

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34

Statements of Operations

Statements of Operations

Former ENIX

Former ENIX

Statements of Cash Flows

Statements of Cash Flows

FY1998~2000 data for former ENIX were on parent company basis

Financial Data (JPNGAAP)

Financial Data (JPNGAAP)

(FY2002 = Fiscal Year Ended March 31, 2003)

(Thousands of U.S.$)

(Millions of Yen)

FY2002

FY2002

2001

2000

1999

1998

NET SALES

182,006 

21,877 

24,825 

45,265 

18,325 

24,394 

COST OF SALES

101,971 

12,256 

12,763 

18,859 

10,015 

11,840 

Gross profit

80,034 

9,620 

12,061 

26,405 

8,310 

12,553 

SELLING, GENERAL AND ADMINISTRATIVE EXPENSES

41,739 

5,017 

4,655 

6,072 

4,443 

4,589 

Operating income

38,295 

4,603 

7,405 

20,333 

3,867 

7,964 

OTHER INCOME (EXPENSES):

Dividend and interest income

15 

30 

119 

55 

134 

Intereset expenses

(17)

(2)

(6)

(0)

Gain (loss) on salses of securities and investment securities - net

(0)

(2)

15 

Write-down of investment securities

(964)

(115)

(11)

(9)

Loss on discontinued foreign operations

(927)

Freign exchange gain (loss) - net

(92)

(11)

(0)

Other - net

(191)

(22)

20 

(21)

26 

32 

Other income (expenses) - net

(1,250)

(150)

53 

99 

85 

163 

INCOME (LOSS) BEFORE INCOME TAXES AND MINORITY INTERESTS

37,044 

4,452 

7,459 

20,433 

3,953 

8,128 

INCOME TAXES

Current

26,306 

3,162 

2,453 

9,650 

2,100 

4,400 

Deferred

(9,618)

(1,156)

696 

(464)

(328)

Total income taxes

16,687 

2,005 

3,149 

9,185 

1,771 

4,400 

MINORITY INTERESTS IN NET INCOME

227 

27 

33 

NET INCOME (LOSS)

20,129 

2,419 

4,276 

11,248 

2,182 

3,728 

(Thousands of U.S.$)

(Millions of Yen)

FY2002

FY2002

2001

2000

1999

OPERATING ACTIVEITIES:

Income (loss) before income taxes and minority interests

37,044 

4,452 

7,459 

20,433 

3,953 

Adjustments for:

Income taxes paid

(20,357)

(2,446)

(8,729)

(1,839)

(3,299)

Depriciation and amortization

3,217 

386 

425 

409 

319 

Increase in allowances for daubtful accounts,sales return and other researve

(1,291)

(155)

(273)

266 

(25)

Gain on salses of investment securities - net

(15)

Write-down of investment securities

833 

100 

11 

Loss on sales and disposal of prooerty and equipment and other

379 

45 

42 

41 

13 

Change in account and notes receivable

(383)

(46)

3,998 

(5,214)

955 

Change in inventories

1,286 

154 

954 

(966)

112 

Change in account and notes payable

5,671 

681 

(1,583)

2,376 

908 

Other - net

153 

18 

(1,178)

758 

(133)

NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES

26,555 

3,192 

1,114 

16,265 

2,799 

INVESTING ACTIVITIES:

Purchases (proceeds from sales) of investment securities - net

(22,245)

(2,673)

(485)

(161)

(581)

Purchases (proceeds from sales) of property and equipment and other

(2,459)

(295)

(247)

(440)

(396)

Investment in movie production

Other - net

(6,387)

(767)

17,872 

8,955 

(1,179)

NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES

(31,093)

(3,737)

17,139 

8,352 

(2,157)

FINANCING ACTIVITIES:

Net increase (decrease) in short-term loans payable

(2,992)

(359)

395 

Proceeds from issuance of common stock

150 

Dividends paid

(12,224)

(1,469)

(2,576)

(2,103)

(520)

Other - net

(392)

(47)

(33)

(2)

NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES

(15,609)

(1,876)

(2,214)

(2,099)

(370)

(94)

(11)

24 

INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS

(20,240)

(2,432)

16,064 

22,518 

271 

CASH AND CASH EQUIVALENTS, BEGINNING OF FISCAL YEAR

351,747 

42,280 

26,215 

851 

579 

1,700 

CASH AND CASH EQUIVALENTS, END OF FISCAL YEAR

331,506 

39,847 

42,280 

25,070 

851 

FOREIGN CURRENCY TRANSLATION ADJUSTMENTS ON CASH AND
CASH EQUIVALENTS

INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS FOR
CHANGE OF CONSOLIDATION

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35

Former SQUARE

Former SQUARE

Balance Sheets

Balance Sheets

Financial Data (JPNGAAP)

Financial Data (JPNGAAP)

(FY2002 = Fiscal Year Ended March 31, 2003)

(Thousands of U.S.$)

(Millions of Yen)

ASSETS

FY2002

FY2002

2001

2000

1999

1998

Current Assets:

Cash and deposits

193,170 

23,219 

18,066 

6,648 

9,389 

10,954 

Notes and account receivable

98,238 

11,808 

4,561 

10,661 

13,956 

14,065 

Inventories

31,936 

3,838 

1,037 

3,142 

2,908 

2,697 

Deferred tax assets

27,104 

3,257 

348 

1,819 

1,716 

Prepaid expenses and other current assets

13,175 

1,583 

2,671 

2,035 

6,402 

9,422 

Allowance for doubtful accounts

(119)

(14)

(13)

(4)

(18)

(26)

Total current assets

363,505 

43,693 

26,671 

24,303 

34,354 

37,113 

Property and Equipment:

Buildings and leasehold improvements

15,025 

1,806 

2,111 

2,184 

1,953 

2,190 

Machinery and equipment

61,629 

7,407 

9,912 

12,887 

11,667 

12,718 

Others

445 

53 

1,456 

644 

1,164 

210 

Less accumulated depreciation

(48,810)

(5,867)

(9,310)

(9,079)

(8,701)

(7,641)

Land

3,506 

421 

421 

421 

421 

421 

Net property and equipment

31,795 

3,821 

4,591 

7,058 

6,504 

7,899 

Intangible Assets

8,628 

1,037 

867 

2,075 

1,837 

15 

Investment and Other Assets:

Investment securities

15,478 

1,860 

1,807 

4,008 

1,920 

604 

Movie production costs

12,621 

8,003 

5,252 

Deferred tax assets

22,035 

2,648 

19 

2,412 

213 

Office lease deposits and other

10,753 

1,292 

3,118 

4,487 

5,832 

6,682 

Total investment and other assets

48,267 

5,801 

4,944 

23,529 

15,970 

12,539 

TOTAL

452,197 

54,354 

37,074 

56,967 

58,666 

57,568 

(Thousands of U.S.$)

(Millions of Yen)

Liabilities, Minority Interest and Shareholders' Equity

FY2002

FY2002

2001

2000

1999

1998

Current Liabilities:

Accounts payable - trade

14,390 

1,729 

971 

6,782 

9,579 

5,803 

Accounts payable - other

57,469 

6,907 

2,023 

3,917 

4,806 

6,169 

Short-term loans payable

8,319 

1,000 

8,147 

2,700 

5,670 

Current portion of long-term debt

185 

22 

22 

22 

22 

1,000 

Allowance for sales return

12,890 

1,549 

1,752 

1,965 

1,824 

1,340 

Deferred tax liabilities

2,051 

246 

625 

Accrued expenses and other

29,732 

3,573 

2,637 

1,478 

1,699 

2,137 

Total current liabilities

125,039 

15,029 

8,032 

22,314 

20,631 

22,121 

Long-term Liabilities:

Long-term debt, less current portion

153 

18 

40 

63 

85 

107 

Retirement allowance

2,508 

301 

145 

208 

166 

155 

Other non-current liabilities

327 

39 

122 

812 

840 

528 

Total non-current liabilities

2,989 

359 

308 

1,084 

1,092 

791 

Minority Interests

10,296 

1,237 

1,045 

3,902 

4,524 

3,754 

Shareholders' Equity

Common stock

99,376 

11,945 

11,945 

4,497 

4,497 

4,497 

Additional paid-in capital

123,523 

14,847 

17,201 

9,753 

9,753 

9,753 

Retained earnings

88,679 

10,659 

(1,615)

14,939 

18,167 

16,650 

Unrealized gain on securities

1,859 

223 

(146)

244 

Foreign currency translation adjustments

500 

60 

305 

232 

Treasury stock

(67)

(8)

(2)

(0)

(0)

(0)

Total shareholders' equity

313,872 

37,727 

27,687 

29,666 

32,417 

30,901 

TOTAL

452,197 

54,354 

37,074 

56,967 

58,666 

57,568 

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36

Former SQUARE

Former SQUARE

Statements of Operations

Statements of Operations

Statements of Cash Flows

Statements of Cash Flows

Financial Data (JPNGAAP)

Financial Data (JPNGAAP)

(FY2002 = Fiscal Year Ended March 31, 2003)

(Thousands of U.S.$)

(Millions of Yen)

FY2002

FY2002

2001

2000

1999

1998

NET SALES

335,163 

40,286 

36,646 

75,538 

72,923 

71,759 

COST OF SALES

97,123 

11,674 

10,597 

45,522 

39,437 

35,239 

Gross profit

238,039 

28,612 

26,049 

30,015 

33,485 

36,519 

SELLING, GENERAL AND ADMINISTRATIVE EXPENSES

133,261 

16,018 

20,563 

32,938 

28,997 

28,259 

Operating income

104,778 

12,594 

5,485 

(2,922)

4,488 

8,260 

OTHER INCOME (EXPENSES):

Dividend and interest income

1,617 

194 

241 

505 

159 

327 

Intereset expenses

(257)

(30)

(119)

(149)

(117)

(195)

Gain (loss) on salses of securities and investment securities - net

1,899 

228 

166 

15 

2,593 

1,015 

Write-down of investment securities

(5,042)

(606)

(118)

(426)

(305)

Equity in earnings (losses) of unconsolidated subsidiaries and affiliates

1,518 

182 

(1,105)

(123)

62 

(166)

Eearnings (losses) from TK investment

(814)

(97)

807 

27 

(19)

Loss on write-off of content development costs

(892)

(107)

(620)

(369)

(478)

(380)

Loss on discontinued movie business

(14,053)

Loss on discontinued foreign operations

(927)

Loss on write-down of office lease deposit

(12,506)

(1,503)

Freign exchange gain (loss) - net

(1,021)

(122)

88 

384 

(685)

(125)

Other - net

(13,411)

(1,612)

(2,431)

(2,181)

(1,767)

(629)

Other income (expenses) - net

(28,909)

(3,474)

(18,070)

(2,314)

(537)

(173)

INCOME (LOSS) BEFORE INCOME TAXES AND MINORITY INTERESTS

75,868 

9,119 

(12,584)

(5,237)

3,950 

8,086 

INCOME TAXES

Current

4,342 

521 

40 

1,833 

2,786 

3,614 

Deferred

(51,981)

(6,248)

4,730 

(2,426)

(723)

(2)

Total income taxes

(47,638)

(5,726)

4,771 

(593)

2,063 

3,612 

MINORITY INTERESTS IN NET INCOME

6,411 

770 

(801)

(1,483)

201 

323 

NET INCOME (LOSS)

117,096 

14,074 

(16,554)

(3,160)

1,685 

4,151 

(Thousands of U.S.$)

(Millions of Yen)

FY2002

FY2002

2001

2000

1999

OPERATING ACTIVEITIES:

Income (loss) before income taxes and minority interests

75,868 

9,119 

(12,584)

(5,237)

3,950 

Adjustments for:

Income taxes paid

(190)

(22)

(1,892)

(3,305)

(4,041)

Depriciation and amortization

14,022 

1,685 

2,030 

3,236 

3,568 

Increase in allowances for daubtful accounts,sales return and other researve

9,694 

1,165 

1,265 

162 

232 

Loss form impairment of lease security deposit

12,506 

1,503 

Loss form discontinued movie business

14,053 

Gain on salses of investment securities - net

(1,899)

(228)

(190)

(15)

(2,591)

Write-down of investment securities

5,042 

606 

118 

426 

305 

Loss on sales and disposal of prooerty and equipment and other

1,425 

171 

320 

1,732 

725 

Change in account and notes receivable

(60,700)

(7,296)

93 

4,116 

(174)

Change in inventories

(22,998)

(2,764)

(712)

(172)

(241)

Change in account and notes payable

6,358 

764 

(376)

(3,018)

3,956 

Other - net

4,512 

542 

1,292 

5,101 

(600)

NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES

43,640 

5,245 

3,417 

3,026 

5,090 

INVESTING ACTIVITIES:

Purchases (proceeds from sales) of investment securities - net

2,299 

276 

(26)

(1,995)

1,229 

Purchases (proceeds from sales) of property and equipment and other

(6,566)

(845)

(2,194)

(5,714)

(2,411)

Investment in movie production

(1,416)

(4,618)

(3,359)

Other - net

(674)

(81)

581 

1,401 

NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES

(5,406)

(649)

(3,055)

(12,326)

(3,140)

FINANCING ACTIVITIES:

Net increase (decrease) in short-term loans payable

8,319 

1,000 

(3,934)

5,189 

(2,966)

Repayments of long-term debt

(185)

(22)

(22)

(22)

(1,000)

Proceeds from issuance of common stock

14,977 

1,629 

Dividends paid

(33)

(3)

(3)

(755)

(1,492)

Other - net

(4,163)

(500)

(149)

(70)

(9)

NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES

3,937 

473 

10,867 

5,970 

(5,470)

(4,058)

(487)

1,265 

588 

(145)

INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS

38,113 

4,581 

12,494 

(2,740)

(3,665)

CASH AND CASH EQUIVALENTS, BEGINNING OF FISCAL YEAR

154,988 

18,629 

6,448 

9,189 

12,855 

68 

(313)

CASH AND CASH EQUIVALENTS, END OF FISCAL YEAR

193,170 

23,219 

18,629 

6,448 

9,189 

FOREIGN CURRENCY TRANSLATION ADJUSTMENTS ON CASH AND
CASH EQUIVALENTS

INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS FOR
CHANGE OF CONSOLIDATION

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37

Game Software Lineup for North America

Game Software Lineup for North America

FINAL FANTASY XI

FINAL FANTASY XI

FINAL FANTASY XI is the first massively multiplayer online role-playing game
(MMORPG) and the latest installment in the world-renowned series.  FINAL FANTASY
XI is a cross-platform, cross-continent MMORPG, allowing players to connect to the same
exact world whether they are playing on a PlayStation 2 or a PC.
          The title showcases the same award-winning visual content, innovative game play
and emotional storyline that has made the FINAL FANTASY series one of the most
popular video game series in the world, selling over 44 million units worldwide to date.
FINAL FANTASY XI incorporates the features that the franchise has become known for,
and those elements constantly evolve in its ongoing adventure. Players will be able to unite
in the world of "Vana'diel‚ÄĚ, where they can create characters choosing from a variety of
races, facial features, sizes, hair styles and colors, play at their own pace, form parties with
other players and embark on multiple adventures through vast environments.
          In FINAL FANTASY XI, players become immersed in an expansive, original story
that includes quests and boss battles.  They can participate in missions either alone or with
other party members and acquire skills such as alchemy, leatherworking, jewel crafting,
fishing and many more.  Various communications tools have been incorporated into
FINAL FANTASY XI to assist communication between players, including easy-to-learn
chat and messaging systems. Whether cross-platform or cross-continental, players can
communicate and interact with each together simultaneously to create a new history for the
world of Vana'diel.
          SQUARE ENIX U.S.A. recently announced the public beta test program for FINAL
FANTASY XI. The beta program is scheduled to begin in June for the PlayStation 2 and
July for Windows.  Selected testers will have a chance to explore the world of Vana'diel in
FINAL FANTASY XI prior to its release.  This title is rated "T" (Teen).

Online Entertainment for the

Online Entertainment for the

 PlayStation

 PlayStation

 2 and Windows PCs

 2 and Windows PCs

¬©2001-2003 SQUARE ENIX CO., LTD. All Rights Reserved.

Title designed by Yoshitaka Amano

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38

PlayStation

PlayStation

 2 Titles

 2 Titles

Kingdom Hearts

Kingdom Hearts

An action role-playing game, KINGDOM HEARTS is the first video game project
between SQUARE ENIX (former SQUARE) and Disney Interactive that not only features
many classic Disney characters and worlds with new characters and worlds, but also
introduces new characters and environments created in the renowned SQUARE ENIX
style.  The unprecedented inclusion of original and new characters and worlds tells a new
story and offers a breakthrough in creative content. KINGDOM HEARTS has sold over
3.3 million units worldwide as of March 31, 2003
          Featuring more than 100 Disney characters, KINGDOM HEARTS is debuting new
Disney characters, Sora, Riku, Kairi and the Heartless, designed by Tetsuya Nomura
(SQUARE ENIX), director and character designer of KINGDOM HEARTS.  Nomura is
best known for his creations in the top selling titles FINAL FANTASY VII, VIII and X.
The new Disney characters team up with classic favorites, as they've never been seen
before, to embark on a magical adventure that takes them to familiar and newly created
Disney worlds.
          KINGDOM HEARTS carries a suggested retail price of U.S. $50 and is rated "E"
(Everyone). (Release date in North America: September 17, 2002)

¬©2002  Disney. Tarzan

TM

 owned by Edgar Rice Burroughs, Inc. and used by permission.

¬© 2002 Edgar Rice Burroughs, Inc. and Disney Enterprises, Inc. All Rights Reserved.

Developed by SQUARESOFT.

Game Software Lineup for North America

Game Software Lineup for North America

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39

PlayStation

PlayStation

 2 Titles

 2 Titles

FINAL FANTASY X

FINAL FANTASY X

FINAL FANTASY X is the first title in the popular role-playing game (RPG) series to be
released for the PlayStation 2. FINAL FANTASY X has sold over 5.5 million units
worldwide as of March 31, 2003.
          The main character, Tidus, is a star player of Blitzball, a full contact sport.  After
miraculously surviving the destruction of his homeland, he awakens among ruins and
thereafter meets a young woman named Yuna.  As a summoner, Yuna must travel to
distant temples and learn the secret art of summoning aeons - powerful spirits of yore - in
order to defeat "Sin."  Tidus learns that a thousand years in the past, mankind lived in
spectacular cities and relied on machines for everything, until Sin suddenly appeared and
destroyed all civilization.  Now, people shun technology, and no one knows when "Sin"
will strike again.  FINAL FANTASY X features a distinct Asian influence, bringing a
fresh feel to the characters, music, settings and story.
          FINAL FANTASY X has an ESRB rating of "T" for Teen and a suggested retail
price of U.S. $50. (Release date in North America: December 18, 2001)

¬©2001,2002 SQUARE ENIX CO., LTD. All Rights Reserved.

Character Design: Yusuke Naora

Game Software Lineup for North America

Game Software Lineup for North America

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40

PlayStation

PlayStation

 2 Titles

 2 Titles

FINAL FANTASY X-2

FINAL FANTASY X-2

FINAL FANTASY X-2 is the first sequel in the long respected series.  This sequel keeps
the familiar environment fresh with the inclusion of a newly created battle system.  The
first female-led FINAL FANTASY, it combines an experience that is both light-hearted
and melancholy, fueled by a tragic story of unrequited love and dark secrets.
          Two years after Yuna's fateful journey to defeat Sin in FINAL FANTASY X, the
once chaotic world of Spira has gone through a massive transformation, entering a period
of "Eternal Calm."  Despite the Calm, Yuna's heart is empty and longs for her lost friends.
When she obtains a mystical sphere that contains imagery of what might be the Blitzball
player she thought was gone forever, Yuna is driven to seek the truth behind what she has
seen.
          Incorporating a completely revamped battle system, new job classes, diverse looks
for the leading female characters, renovated maps and enhanced character development
systems, FINAL FANTASY X-2 promises to deliver a fresh new look.  FINAL
FANTASY X-2 will be released this fall.  This title is rated "T" (Teen).

¬©2003 SQUARE ENIX CO., LTD. All Rights Reserved.

Main Character Design: Tetsuya Nomura

Altemate Costume Design: Tetsu Tsukamoto

Game Software Lineup for North America

Game Software Lineup for North America

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41

STAR OCEAN Till the End of Time

STAR OCEAN Till the End of Time

PlayStation

PlayStation

 2 Titles

 2 Titles

STAR OCEAN Till the End of Time is the first title in the science-fiction RPG series for
the PlayStation 2.  Building on the first-rate concepts of its prequels, STAR OCEAN fully
utilizes the technological capabilities of the PlayStation 2, incorporating gorgeous
cinematic sequences and an unparalleled real-time battle system.
          Set in 772 (space calendar), four hundred years after the battle with the ‚ÄúTen Wise
Men,‚ÄĚ players follow protagonist Fate Linegod in his quest to find his loved ones after a
sudden attack on the resort planet of Hida by an unknown space military.
          The advanced real-time battle system allows players to move freely around the 3D
field as well as to chose which of the three party members they want to control.  Fully
polygonal graphics create a spectacular, detailed world that can now be explored in detail.
Dolby Pro Logic

 

II will allow players to hear nuances such as the approaching footsteps of

an enemy.

 

 STAR OCEAN Till the End of Time will be released in spring 2004. 

 

This title

is not yet rated.

¬©2003 tri-Ace Inc./SQUARE ENIX CO., LTD. All Right Reserved.

Game Software Lineup for North America

Game Software Lineup for North America

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42

Drakengard

Drakengard

PlayStation

PlayStation

 2 Titles

 2 Titles

Cast in a chaotic world of dragon pacts and warfare, Drakengard combines unique action
RPG elements into a profoundly tragic saga.  Developed by team members from such
blockbuster titles as Resident Evil Code: Veronica, the Bust-a-Groove series and Ace
Combat, Drakengard seeks to immerse the player in an all-new gameplay experience,
combining reality and interactivity.
          Drakengard tells the tale of love, lore, sacrifice and obligation focusing on the main
character Kyme, his sister Friae, and her fiance and Kyme's childhood friend, Yuvalt.
Players will be in for a thrilling ride as they battle on land and in the skies. Not only will
the player's attributes evolve throughout the game, but the player’s contracted dragon also
will mature as the game progresses, changing in appearance and abilities.
Drakengard will be released in spring 2004.  This title is not yet rated.

¬©2003 cavia inc./SQUARE ENIX CO., LTD. All Right Reserved.

Game Software Lineup for North America

Game Software Lineup for North America

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43

Nintendo

Nintendo

 GameCube

 GameCube

 and Game Boy Advance Titles

 and Game Boy Advance Titles

FINAL FANTASY CRYSTAL CHRONICLES 

FINAL FANTASY CRYSTAL CHRONICLES 

Exclusively developed for the Nintendo GameCube, FINAL FANTASY CRYSTAL
CHRONICLES is the first title in the popular franchise for the platform.  Elements of the
traditional single-player RPG have been adapted for the Nintendo GameCube, allowing for
up to four-player simultaneous play.
          In an innovative new interface, the Game Boy Advance acts as each player's
controller, displaying his or her personal information and hiding it from other players.
Players advance through the adventure by communicating directly with each other,
cooperating and making deals.  Since there are obstacles that only certain party members
can clear, cooperative play becomes crucial.  FINAL FANTASY CRYSTAL
CHRONICLES will be released in 2003.  This game is not yet rated.  Nintendo of America
Inc. will publish this game.

¬©2003 THE GAME DESIGNERS STUDIO, INC.

FINAL FANTASY is a registered trademark of SQUARE ENIX CO., LTD.

CHARACTER DESIGN/Toshiyuki Itohara

Game Software Lineup for North America

Game Software Lineup for North America

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44

Nintendo

Nintendo

 GameCube

 GameCube

 and Game Boy Advance Titles

 and Game Boy Advance Titles

FINAL FANTASY TACTICS ADVANCE

FINAL FANTASY TACTICS ADVANCE

FINAL FANTASY TACTICS ADVANCE is the first FINAL FANTASY title for the
Game Boy Advance in North America.  Gamers can look forward to the open-ended job
class creation system, the intense strategic battle and the exhilarating storyline that made
the original PlayStation game, FINAL FANTASY TACTICS, one of the most critically
acclaimed titles ever.
          Players are thrust into the world of Ivalice, where they meet protagonist Marche and
his friend, Mewt, who is struggling with family tragedies.  After a snowball fight with
school bullies, Mewt finds the book - Final Fantasy - and shares it with his friends.
Looking to escape their dismal lives, they read it. However, something goes wrong and
Ivalice is transformed into the world within the book.  Thus Marche and friends begin their
journey through the world of FINAL FANTASY.
          Players can also unite with other players and form a party using the Game Boy
Advance Game Link cable.  FINAL FANTASY TACTICS ADVANCE will be released in
2003.   This game is rated "E" (Everyone).    Nintendo of America Inc. will publish this
game.

SWORD of MANA 

SWORD of MANA 

SWORD of MANA is the latest installment in the celebrated Mana series, which includes
FINAL FANTASY ADVENTURE (Game Boy), SECRET of MANA (Super Nintendo
Entertainment System) and LEGEND of MANA for the PlayStation game console.
SWORD of MANA is the first game in the series to appear on the Game Boy Advance.
          Based on the storyline of FINAL FANTASY ADVENTURE, SWORD of MANA
allows players to choose the role of hero or heroine. The player's choice changes his or her
understanding of the story and relation to characters based on who is selected at the start of
the game.  With multiple possible experiences, replay value is high.
           In addition to the visual upgrade and moving story, strategic elements have been
added to the adventure, including a diverse selection of weapons.  Players can select the
best weapon for particular enemies, or choose from new attacks and magic spells.  The
popular "Ring Command System" returns, allowing players to easily choose items,
weapons or abilities in battles.   SWORD of MANA will be released in 2003.  This game is
not yet rated.   Nintendo of America Inc. will publish this game.

¬©2003 SQUARE ENIX CO., LTD. All Right Reserved.

¬©2003 SQUARE ENIX CO., LTD. All Right Reserved.

Licensed by Nintendo

Game Software Lineup for North America

Game Software Lineup for North America