In regards to Square’s Financial Reports & FF7R Part 3’s release timing drama…
Context: People are worried FF7R Part 3 will release in the Fiscal Year (starting April 1st, 2027) due to Part 3 being absent from Square Enix’ recently released financial reports & financial forecast. Maximilian Dood among other creators uploaded videos on the topic.
I've seen this topic going crazy these past couple days. I did a bunch of digging & found some interesting tidbits (TL;DR at the end):
I did some digging due to this whole debate & found some interesting tidbits.
Per Japan's & Tokyo Stock Exchange's laws; a company's financial reports & financial forecast can omit titles that have yet to be announced. As long as the expected revenue remains as close as possible to a realistic expectation (& said expected revenue may include revenue generated from unrevealed titles).
Basically, the financial forecast that shows us Evercold & REBIRTH for Switch 2 does NOT have to publicly disclose FF7R Part 3, even if it releases in FY2027 (before March 31st, 2027). The expected revenue can include Part 3’s contribution, without actually disclosing its involvement to said number.
A reminder that last year, Capcom released their financial report & forecast BEFORE Resident Evil Requiem was announced. Their expected revenue was claiming to stem from the Monster Hunter IP among other things, but mentioned nothing about RE9, since it was a marketing secret at the time.
Even after RE9's announcement, there was no revision for the forecast. & we only got an update from Capcom AFTER RE9 released (not just announced, but full-blown released to play), in April 2026. We then got an updated financial report which confirmed RE9 was successful &
surpassed the aforementioned revenue forecast.
The last point, is let's say Part 3 does release within this Fiscal Year, the projected revenue Square put out could easily include Part 3. The number they put out is quite impressive & I'd be a little surprised if only Evercold, REBIRTH Switch 2 & merch attained that goal. FY2026 included the MTG collab, which did record breaking numbers for WotC as well. Not to mention MTG players picking up FF for the very first time due to the collab. Plus Tactics, REMAKE Switch 2, DQ games, Octopath & merch/concerts etc.
Yet, Square forecasted a similar total revenue for FY2027, with almost only REBIRTH Switch 2 & Evercold? Dawntrail was the best selling XIV Expansion with ¥55B in net sales. Square is projecting almost ¥300B for FY2027. Even if Evercold somehow hits ¥100B, that leaves ~¥200B. We all know REBIRTH Switch 2 will be less than Evercold’s contribution. Let’s say it somehow nets ¥50B, that leaves ~¥150B+ to fill. I’m aware the MTG stuff is still selling, but at a fraction of the initial launch (limited time sealed products & events have been exhausted). Can merch & some discounted games sales really achieve that? Or do they have something up their sleeve?
Anyway…
All this to say, FF7R Part 3 could technically, legally still release before March 31st, 2027. It is very possible for it to be at SGF. Will it be the case for either point? Only time will tell. Personally, I'm leaning towards a SGF reveal with a release anywhere between February to April.
TL;DR : Square Enix can legally omit FF7R Part 3 from the financial report/forecast, as long as the expected revenue is realistic & includes the earnings from everything including unrevealed titles. Which means it is entirely possible for Part 3 to release within this Fiscal Year (BEFORE March 31st, 2027). Keyword; possible. Not guaranteed!