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Sony sells all its Square Enix shares

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Long-time partners Sony and Square Enix look set for a bit of a break-up as Sony will, in days to come, be selling all of its shares in a company that appeared at the beginning of the year to have turned its fortunes around, but is still trading lower than its all-time high in 2000.

Sony Computer Entertainment will transfer some 9,520,000 shares they had in Square Enix to SMBC Nikko Securities Inc., one of Japan’s largest brokerage firms. At a value of 4.8 billion yen, (or roughly $47 million), this isn’t a terrible return but certainly not one Sony will be entirely happy with given that SCE held roughly eight and a half percent of the company and was one of the primary shareholders of Squeenix – which used to be a behemoth of the gaming industry.

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Square Enix Holdings Co Ltd stock movements over the past year. Source: (Bloomberg Businessweek)

This is probably in line with Sony’s existing strategy of streamlining its operations, and the move will add a nice cherry on top of their first-quarter profits on the back of PS4 sales. However, it could also be seen as an indictment on Square Enix, who have so far failed to recapture the success of their earlier years.

Source: Siliconera

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