Sony Corporation Selling Square Enix Shares for 4.8 Billion Yen
SCE sells off more than 9.5 million shares in Final Fantasy developer/publisher.
According to Siliconera, Sony Corporation will be selling off 9,520,000 shares that it owns in Japanese publisher Square Enix for 4.8 billion yen. This comes to roughly $47 million and will added to Q1 2014 profits for the former. The shares are being transferred in agreement with SMBC Nikko Securities Inc., one of the biggest Japanese brokerage firms.
This isn’t really a sign of tragedy or anything – companies sell shares all the time and judging by Square Enix’s current trajectory with the success of Final Fantasy XIV: A Realm Reborn. Final Fantasy XV and Kingdom Hearts III are the biggest games to look out for, especially given their popularity in Japan (Famitsu currently has both rated as the most wanted games in Japan). It will be interesting to see what SCE does what the additional profits.
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