Today, it was announced that Square Enix president Yoichi Wada is stepping down. He will no longer be serving as Square Enix's Representative Director. Yousuke Matsuda, who joined Square in 2001, will take over Wada's role in running the company. The reason given for Wada's demotion was "a management reorganization". According to Japanese website 4Gamer, no word on what's next for Wada. This comes as Square Enix is forecasting an "extraordinary loss" in its next financial statement. スクウェア・エニックスの和田洋一氏が代表取締役社長を退任 [4Gamer] Kotaku East is your slice of Asian internet culture, bringing you the latest talking points from Japan, Korea, China and beyond. Tune in every morning from 4am to 8am.