The beloved RPG series Dragon Quest celebrated its 40th anniversary on May 27, a significant milestone for one of SQUARE ENIX's flagship franchises. To mark the occasion, the company finally shared the latest news on Dragon Quest XII.
However, the market's reaction wasn't quite what fans might have hoped for. On May 28, the very next day, Square Enix Holdings' stock price dropped by 150 yen from the previous trading day's closing price. While not a massive decline, the fact that an announcement for the company's flagship title failed to boost the stock and instead saw a dip has drawn considerable attention.
The cause of this market reaction stems from the "Dragon Quest Announcement" livestream, which aired at 10 PM on May 27. This date not only marked the 40th anniversary of the first Dragon Quest game's release in 1986 but is also officially recognized by the Japan Anniversary Association as "DQ Day." With new game announcements or major event reveals almost a yearly tradition on DQ Day, many fans eagerly anticipated this year's broadcast.
Yet, even before the stream began, many players sensed something was amiss. Despite it being a monumental 40th anniversary, the official pre-announcement video was only about 10 minutes long, and the title wasn't a grand "reveal" but a more subdued "announcement."
This led to speculation: "Could it be bad news?" Especially since Dragon Quest XII, officially announced in 2021, had seen virtually no new information for five years. Concerns about potential development cancellation had already spread across social media. As it turned out, those premonitions were "half-right."
Not only have the subtitle, logo, and story direction been completely revamped, but the original title, "Dragon Quest XII: The Flames of Fate," has been changed to "Dragon Quest XII: The Dawning of an End." This implies that the previously ongoing development project has been halted, the development team reorganized, and the project is essentially starting over from scratch.
The official announcement still did not provide a release timeline, leading to widespread belief that players might have to wait several more years. The market's interpretation was clear: development time will inevitably lengthen, and costs will continue to rise, prompting an immediate reaction in the stock price.
With a complete overhaul in direction, a new title, and a confirmed change in the development structure, fans eagerly awaiting the game will likely have to be patient for a while longer. This undoubtedly contributed to the negative market response. All eyes are now on Square Enix for more substantial updates in the future.
Note: Financial figures and earnings forecasts should be confirmed through the company’s official announcements.