It appears that Square Enix will be opening up a new Western studio after having sold off their previous Western studio and IPs back in May 2022. Though this has yet to be confirmed, there are a few interesting things to note about this possible new venture.
The new Western studio is said to be called Studio Onoma, according to the application sent to the Canadian Trademarks Database. The applicant on this form is SQUARE ENIX NEWCO LTD., and as we can see here, they submitted the app in order to provide goods and services in Canada. The document shows that they are looking to provide goods such as video game software, computer software, casual clothing, toys, games, and playthings. The application also states that the "toys and playthings" will mainly be action figures. This application was filed on August 17, 2022. For those who don't know Square Enix Newco is a company that publishes computer games in London England and was established on April 19, 2022.
What makes this new studio location interesting is that Square Enix sold off its Western location and all IPs associated with it to Embracer for $300 million in early May 2022. This transaction sold off Square Enix Crystal Dynamics, Eidos, and Square Enix Montreal. What's more, is that Sony has been apparently looking to acquire Square Enix, which some believed was the initial reason behind this sell-off. Stephane D’Astous, the founder of Eidos, made a statement in regards to the sell-off as well, where he said,
"If I read between the lines, Square Enix Japan was not as committed as we hoped initially. And there are rumours, obviously, that with all these activities of mergers and acquisitions, that Sony would really like to have Square Enix within their wheelhouse."
This application makes it seem as though Square Enix is still attempting to establish new Western studios while selling off the previous ones, which does seem a bit odd. Though again, these are just rumors, and Square Enix has yet to make any statements about this new Trademark.