Yesterday, March 2, game developer and Sonic founder Yuji Naka pleaded guilty in court to insider trading charges. The allegations came as the developer teamed up with publisher Square Enix to develop Balan Wonderworld.
Eventually, Naka learned that Ateam Entertainment Inc. was developing new Dragon Quest and Final Fantasy mobile games, and Naka bought shares in the company, anticipating the game’s release soon. (via Denfa Minico Gamer).
A former Square Enix employee, Naka has spoken publicly since 2020 about Dragon Quest Tact and Final Fantasy VII: First Soldier (which he developed with Ateam). This information led to Naka being charged with insider trading after buying stock in each company.
Ultimately, Naka was found guilty of “violations of the Financial Instruments and Exchange Act.” In court, Naka pleaded guilty to the charges, saying, “There is no doubt that I knew the facts about the game before it was made public and I bought stock.”
Yuji Naka worked at Sega from 1984 to 2006, becoming the creator of Sonic and playing a key role in the series’ development. In 2006, Naka founded his own studio Prope, which specializes in developing small games for mobile phones and Nintendo Wii. Later, in 2018, Naka finally joined Square Enix, and in 2021 he directed Balan Wonderworld.
Balan Wonderworld was never received positively, and Naka later left Square Enix. In April 2022, Naka then sued Square Enix, claiming he was fired as director of Balan Wonderworld six months before it was released. Ultimately, it was one hell of a ride for Yuji Naka.
