Square Enix names new Taito CEO

Youichi Wada named chief executive of Square Enix's arcade acquisition

June 27, 2006

Square Enix has announced that it has named a new Chief Executive Officer (CEO) to its subsidiary company, Taito. Yoichi Wada has been appointed to serve as CEO of the arcade company which Square Enix purchased last year.

Wada served as President of Square Enix since it was formed when Square and Enix merged in 2002. Before that, he served as President of Square Co. Ltd. He has also served as Chairman of Taito since February.

Square Enix secured purchase of Taito last September in the hopes that the arcade giant would help diversify the company's offerings, which were based mostly on home console gaming (particularly the Final Fantasy series.) Since the acquisition, however, Taito has only been a drain on its adoptive parent's profits. Wada, known for his vision in the arcade market, is in place to turn Taito around.

The previous CEO, Yasuo Nishigaki, will continue to serve on Taito's board of directors as Chairman.