It is possible to have a look at the published financial reports for PSO2 Meseta yourself. While PSO2 has been among the most successful titles, it does not cost as much to keep it in JP compared to hiring a new team and establishing new infrastructure to receive it localized. It would be a huge risk for SEGA to attempt to force the match into the west. The demand is still, but with so many foreigners already playing on the JP servers, SEGA might have been and decided it wasn't required to try and create that push. The failure of the SEA server did not help with this choice, even if the cause drops upon Asiasoft's poor handling of the match.
We know that the foreign population about the JP servers is little compared to the people playing on the NA servers, however, hindsight is 20/20. Talking of 2020, enter Microsoft. A number of years back, Microsoft opens up Azure for gambling. While we do not know who approached who, it is very obvious that there was an arrangement between both companies: Microsoft can finance the PSO2 localization project in exchange for SEGA using and analyzing Microsoft's platform. The rest is history. SEGA did not wait because they desired to.
I also heard a rumor that the profits out of Alien Colonial Marines were to help fund pso2 from the West, but everybody knows what happened to that game. Because I'm all for that! Wait what? I thought that game funds have been stolen to finance Borderlands rather than that game I discovered, that's stupid.
That game is composed as a loss to Sega. It's a rumor, but Jeff Gertsmann was the person who talked about it, and he's not a random. Granted, he's not super influential in the gaming arena, but he's very much an experienced reporter and match reviewer, even though he isn't a journalist; he has a lot of connections. Not long after the announcement of PSO2 to the west in 2012, alot of downsizing happened for the western branches of SEGA, particularly SEGA of America. For a while SEGA had to focus just on a few important franchises in the westand it was only after SEGA of America was merged into Atlus USA in 2015 that things started to get much better.
There was no way they might have managed a huge online game like PSO2 during those decades, and even following the merge, they had been occupied with not just localizing more games from more franchises they couldn't in the years before, but they had been occupied with enhancing their localization process so the western discharges could be nearer to the JP releases. Even today in 2020 the current SEGA of all America/Atlus USA would not have been able to handle the whole PSO2 job independently (as we can see by the partnership between SEGA and Microsoft with MS hosting the servers and community and cheap meseta pso2 service being outsourced to ESTSoft).