Not sure what the heck people are talking about saying the merger was a no-choice situation for Square, or that Suzuki ran the company into the ground. Neither are remotely true. In fact, the merger was supposed to happen even earlier than it did, but it was the fiscal impact of the Final Fantasy film that made Enix hold off til 2003.
The continued success of the EA and Square ventures in the US and Japan (I'm going back to the PSone here) and the capital infusion from Sony was more than enough to get Square back on track after the film (look it up if you don't believe me, they were back in the black by FY2002).
Suzuki is completely right, the merger was an asinine idea headed up and orchestrated by completely incompetent idiots, notably Tweedle Dee and Tweedle Dum at Enix, Fukushima and Honda, and of course, Wada.
Enix desperately wanted to piggy back Square for US penetration, Wada was an absolute idiot who despised Sakaguchi and was terrified of the backlash from the film, and together they instituted horrendous development reforms and linear focused brand reliances that were so laughably short sighted it amazes me these men have jobs.
Nothing else is more responsible for the state of this company than that damn merger.