Sir Loin of Beef
Apparently SE is suffering from their own financial issues, and it actually has nothing to do with the PSN problems that are still rampant. The Final Fantasy creator has stated that it plans to report a loss of a whopping ¥12 billion (roughly $148 million) for the 2011 fiscal year .
Apparently a large chunk of this massive loss is being attributed to their various cancelled projects, which account for ¥4.5 billion worth. The report from the company states that the loss is a result of "introducing a tightened selection standard regarding title lineup." Another small portion is attributed towards the recent disaster involving the earthquake and tsunami combo that hit Japan a while back, which the country is still recovering from.
There are likely a number of other things that factor towards this huge loss. For example, while the earthquake may have affected their business side of things, a large chunk of people are likely still holding off on gaming for various reasons, or maybe even don't have access to games at all. This also has an impact on their MMO lineups, as less people are playing while the country is still recovering. Another thing to keep in mind is that SE is still directly paying out of their own pockets in order to keep Final Fantasy XIV afloat, which is still free-to-play until the developers can get it into an actual playable state, a very likely contributor for the loss.
Whatever the case may be, it'll be interesting to see how the company plans to come back from this, though I don't think whoring out the FF franchise further is gonna help much.