News Sony Sells Its Entire Stake in Square Enix (Updated)
posted on 2014-04-16 12:10 EDT by Sarah Nelkin
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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