You may not have known this, but there has been an investigation going on in Japan in regards to Square Enix. You see, the company is under investigation for insider trading in relation to a new Dragon Quest game.
So far, Taisuke Sazaki and Fumiaki Suzuki have been arrested for acquiring stock in Japanese developer Aiming just before Square Enix announced a new Dragon Quest game. Well, former Square Enix employee and Sonic the Hedgehog creator Yuji Naka has now been arrested too.
Yuji Naka is accused of purchasing approximately 10,000 shares of Aiming stock for around 2,800,000 yen, or $20,000, just before Drgaon Quest Tact was announced. This was when Naka was still working for Square Enix for Balan Wonderworld.
It is being suspected that all 3 individuals may have intentionally used insider information to sell the stock again at a later date, when the stock’s value increased. Meanwhile, Square Enix has issued a statement, saying that they have been cooperating with all parties involved with conducting the investigation, including the Tokyo District Public Prosecutors Office and Securities and Exchange Surveillance Commission. Square Enix also said that “we deeply regret the great concern this has caused to all concerned. We have dealt with this incident strictly, including internal disciplinary actions taken against the suspected employees”.
