01/05/2016: "There Used to Be a Real Shinra Company"

Square Enix announced today that it is shutting down Shinra Technologies, a cloud gaming company that was founded back in September 2014. Shinra, whose tech was apparently never taken beyond the testing phase, had trouble raising money from third-party investors. Come the end of the fiscal year (March 31, 2016), Square Enix will report a two billion yen (US$16.9 million) loss related to Shinra. However, even with Shinra's closure, Square Enix has said that it will "continue to develop our business using cloud technologies".

Source: Gamasutra

Posted by Reeve at 10:55 PM EST