en.wikipedia.org/wiki/Box-office_bomb

There are two factual problems here.

1. Square Pictures did make another film project after The Spirits Within. A retrospective from Inverse notes that after Final Fantasy: The Spirits Within flopped, Square Pictures still "held on long enough to be hired by the Wachowskis to make Final Flight of the Osiris." That directly contradicts the claim that Square Pictures "did not make any more films."

2. Square Enix’s own materials do not describe Visual Works as the same entity as Square Pictures. In a 2021 official Square Enix announcement, the company says it was "newly establishing SQUARE ENIX Image Studio Division" through the integration of its Visual Works Division and Image Arts Division. That identifies Visual Works as a division of Square Enix, not as Square Pictures under a new name. Separately, Square Enix annual reports list SQUARE PICTURES, INC. among the company’s consolidated subsidiaries, showing that Square Pictures and Visual Works were treated as distinct entities in Square Enix’s own corporate materials.

So the sentence is inaccurate both in saying Square Pictures made no further films and in equating Square Pictures with Visual Works.