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Sony is selling $47 million worth of shares in Square Enix
Sony is selling $47 million worth of shares in Square Enix
April 16, 2014 | By Mike Rose

April 16, 2014 | By Mike Rose
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Sony announced today that it plans to sell all of its shares in Square Enix Holdings, to the tune of 4.8 billion yen ($47 million).

As translated by Siliconera, Sony Computer Entertainment will transfer its 9,520,000 shares in Square Enix to SMBC Nikko Securities, one of Japan's largest brokerage firms, later this week.

Sony has held a partnership with Square Enix for many years now, which most recently saw the Final Fantasy XIV: A Realm Reborn MMO launch as a console exclusive on PlayStation platforms.

This sale will see Sony add $47 million to its 2014 fiscal year first quarter, building on its swing to profits from the recent successful PlayStation 4 launch.


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Comments


Kyle Kulyk
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A little premature to say the total value of the sale is 4.8 billion yen, isn't it? According to Sony's press release, they're posting a gain of 4.8 billion yen and the final price will be revealed tomorrow. If they sold for 4.8 billion, that would be roughly a 66% discount to the market price. Does that seem right?

http://www.sony.net/SonyInfo/IR/news/20140416_E.pdf

Ardney Carter
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Bwhahahaha. My boycott of Sony products is finally paying off!

:P

In all seriousness, I'm curious what prompted this move. SE has certainly seen a rough patch but they also had some recent indications that things may be turning around (FF14, Bravely Default, etc).

Michael O'Hair
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Continued lack of vision.
http://www.gamesindustry.biz/articles/2012-11-07-square-enix-merg
er-a-complete-failure-says-former-square-boss

At some point, they (and others, such as Capcom) aimed to become the Japanese Activision by acquiring other houses in order to secure market dominance. But they forgot that they wanted to be the house with the most blockbusters, they needed more blockbuster games than anyone else. That isn't what's been happening, for a while now.

Jeferson Soler
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@ Michael O'Hair - What you say is true, and considering the recent Gamasutra article about what Mr. Matsuda said (http://www.gamasutra.com/view/news/214326/Square_Enix_president_a
dmits_that_company_lost_focus.php), Mr. Matsuda himself admitted that Square Enix had lost its focus. Apparently, Bravely Default's success was what gave Matsuda (and others as well, I assume) a wake up call, showing that Square Enix never needed to "westernize" the games in order to try to appeal to the western audience.

Jeferson Soler
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Actually, this move may be beneficial for both sides, especially Sony as the company could improve financially by selling off the SE shares.


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