Square Enix has announced a new cloud gaming service for 2015

Square Enix announced its aim to deliver “revolutionary” cloud-based gaming with Shinra Technologies, a newly launched subsidiary helmed by Yoichi Wada, the former president of the Japanese publisher. Cutely named after the company in Final Fantasy 7, Shinra’s goal is to “change the game industry ecosystem by offering new types of games experiences” through its own tech. Shinra appears to be an evolution of Square Enix’s Project Flare streaming project but set up as a separate subsidiary.

Square Enix unveiled Shinra Technologies at Tokyo Game Show today, a new cloud gaming business to be led by Yoichi Wada, former president of Square Enix. Shinra Technologies, named after the organization from Final Fantasy 7, is headquartered in New York City with offices in Tokyo and Montreal. The new company has partnered with Just Cause developer Avalanche Studios, which also has offices in New York, to develop games and technology. Wada said that the newly established company will provide a “new ecosystem for the games industry.” The AAA game industry requires huge investments, and older business models — reliance on consoles as dedicated game-playing devices — have been unable to maintain this ecosystem, he said. “The industry will only continue its expansion, but in due time a correction to this path is necessary,” Wada said.