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Final Fantasy, Dragon Quest lose earnings magic for Square Enix

TOKYO -- Square Enix Holdings saw net profit tumble 70% to 14.9 billion yen ($95.4 million) in the fiscal year ended March as Japan's video game industry grapples with ebbing pandemic-era demand and mounting development costs.

In earnings released Monday, the developer of the hugely popular Final Fantasy and Dragon Quest franchises booked 38.8 billion yen in write-downs and extraordinary losses related to a revision of its game development pipeline.