News Sony Sells Its Entire Stake in Square Enix (Updated)
posted on 2014-04-16 12:10 EDT
Sony announced on Wednesday that it will sell all of its 9.52 million shares of Square Enix Holdings to SMBC Nikko Securities Inc. Sony expects to receive a profit of about 4.8 billion yen (about US$47 million) from the sale. Sony will announce the results of its 2013 financial year on May 14.
Update: While Sony expects to earn 4.8 billion yen (US$47 million) in profits from the sale of Square Enix in the first quarter of its financial year (April to July), Sony is selling its 9.52 million shares in Square Enix for a total of 15.3 billion yen (about US$150 million). Sony owned an 8.25% stake in Square Enix before the sale. The Hollywood Reporter also notes that SMBC Nikko Securities is expected to sell the shares on to investors. Source: The Hollywood Reporter
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