Apr
16
2014
0

Sony Sells All Their Shares of Square Enix

Sony announced that it’s selling off its’ portion of the 9.52 million shares of Square Enix. Sony is currently the third largest shareholder in Squad Enix at 8.2%. The shares will be sold to Nikko Securities, a Japanese financial securities company. Square Enix itself is the game developer responsible for franchises like Final Fantasy, Kingdom Hearts, and Dragon Quest. More recently they’ve been responsible for the Deus Ex: Human Revolution, and the revamped Tomb Raider.

Despite the success of the Playstation division as of late, Sony itself has been in financial trouble. There have already been thousands of layoffs, with more expected, and the selling off of business assets like Vaio PCs. It’s clear Sony is going through a massive restructuring to get their house in order, and this move seems to be part of that overhaul.

 

Source: Joystiq, IGN