婆罗门
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战斗力 鹅
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注册时间 2011-6-9
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本帖最后由 zikimi 于 2022-11-9 16:23 编辑
https://www.hd.square-enix.com/eng/ir/library/pdf/ar_2022en.pdf
当然是说原文，原文的根据应该是这个，说的是让外资入股子公司或者一起并购其他工作室，se语境下这个旗下工作室是夜光工作室 东京rpg工厂之类的子公司，外面工作室开发ff kh这个说法完全就是瞎猜的结果
Diversifying capital structure of our studios
Our studio portfolio strategy has basically been for the Group to own its studios outright. Our 2005 acquisition of TAITO and 2009 acquisition of Eidos were in keeping with this view. Full ownership meant that since we bore all the development costs, we would stand to receive the entirety of the financial returns. At the same time, however, it also meant that we were exposed to the entirety of the downside risk. In the days before game development efforts reached their present massive scale, this strategy proved very effective because our Group was amply capable of absorbing any volatility on its own, as well as of generating returns that outstripped any risk.
However, as the investment required for development efforts has grown, this strategy has begun to produce side effects of a scale that we cannot ignore. It is now more important than ever that we manage financial volatility and the impact that it has on our accounting because, while development investments fuel our Group’s future growth, we must also recognize those investments in the form of our content production account. How to exercise appropriate control over volatility and strike a balance between risk and return when making growth investments are the key questions that we must ask ourselves as we manage our games business going forward, and I believe that the answer lies in a more diversified capital structure of our studios.
By “a more diversified capital structure of our studios,” I refer to not fixating on full ownership and instead making various patterns of the studios’ capital structure that enables sharing development risk with partners. Such a strategy would allow us to grow our studio portfolio as a whole while exposing ourselves to less risk. Specifically, we would diversify the capital structure of our studios by not only owning some studios outright, but also by welcoming third parties to take stakes in some of our studios or by our taking stakes in studios outside the Group. In this way, we would create a studio portfolio that spans a continuum from studios that we own outright to those that are equity-method affiliates or less. Under such a strategy, we would also engage in M&A activities, for example, and work to achieve a balance between growth and financial stability.
I will next discuss the blockchain entertainment domain, which is to play a key part in our strategy for future growth.
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发表于 2022-11-9 13:47
讲的不是这个意思，原文讲的是几个日厂计划开始转型了
