Sony Computer Entertainment Sells All Of Its Square Enix Shares
In a rather unexpected and astonishing piece of news this afternoon, Sony Corporation has just recently announced through a press release that Sony Computer Entertainment reached an agreement to sell all of its 9,520,000 Square Enix shares.
The press release did not specify the reason behind the massive sale. However, we do know that all of the shares from Sony were sold to the financial firm SMBC Nikko Securities.
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The sale is expected to net Sony about 4.8 billion yen, which is around 47 47 million dollars. The press release mentioned that the final income from the sale will be revealed tomorrow.
It’s unclear what kind of effect this will have on Sony’s relationship with Square Enix or what it means for the gaming side of things. At best we can speculate that the sale was possibly to build upon earlier sales of assets in order to consolidate Sony’s overall financial situation, and trim down on excess.