SquareEnixLogo1 30 Jun

Square Enix has issued a statement to Joystiq to clarify former CEO Yoichi Wada’s role within the company, after his name appeared under “Chairman” on the company’s officer listings.

The statement explains that the entire business and operations of The Square Enix group is managed by parent company Square Enix Holdings Co., Ltd. Yoichi Wada left management of the parent company and no longer has any role there. “Currently, he is overseeing a portion of the business within Square Enix Co., Ltd (Square Enix Tokyo), one of the subsidiaries of the parent company”, the statement read, in part. “He has no authority in terms of the management of the group.”

Yoichi Wada announced his resignation in March, after Square Enix forecast an “extraordinary loss” in their fiscal year. Wada was replaced by representative director, Yosuke Matsuda.

(via Joystiq)