Yuji Naka is now officially indicted on insider trading charges

Yuji Naka
Image: via Twitter (@nakayuji)

Update [Wed 28th Dec, 2022 12:15 GMT]:

Following the arrests of Sonic co-founder Yuji Naka and former Square Enix employee Taisuke Sazaki, both are now officially indicted on insider-trading charges.

According to the report of NHK (thank, VGC), both were charged with conducting insider trading and investing in companies based on information that has not been made public. Naka is said to have invested around 144.7 million yen ($834,000) in ATeam Entertainment, knowing that the value will increase rapidly when news of the development of the company becomes available. Final Fantasy VII: The First Soldier – which ATeam will partner with Square Enix – will be made public.

It is currently unknown whether Naka or Sazaki will appear in court, but we will keep you informed of any major developments.

Update [Wed 7th Dec, 2022 12:30 GMT]:

Yuki Naka is said to have been arrested again for potentially insider trading, this time in relation to the mobile title Final Fantasy VII: The First Soldier.

According to the report of Asahi and VGCNaka and former Square Enix developer Taisuke Sazaki have been arrested for allegedly investing in ‘ATeam Entertainment’ based on non-public information regarding Square-Enix’s plans to partner with the company.

Naka was apparently aware of the development and upcoming release of Final Fantasy VII: The First Soldier before the information was made public, and as such has invested approximately 120,000 shares in the company, totaling approximately 144 shares. 0.7 million yen ($834,000).

As always, if there’s more development, we’ll let you know.

Original article [Fri 18th Nov, 2022 03:05 GMT]:

Yuji Naka – co-author of sound and more recent releases Bali Wonderworld – is said to have been arrested during Square Enix’s ongoing insider trading investigation.

This followed the arrests of Square Enix employees Taisuke Sazaki and Fumiaki Suzuki, who allegedly bought shares of Japanese game development company ‘Aiming’ prior to the announcement of their new product. surname. Dragon Quest mobile title, Dragon Hunting Tactics.

Sazaki and Suzuki are said to have purchased 47 million yen (about $336,300) of developer Aiming’s stock. Yuji Naka is also accused of having inside information – buying 10,000 shares of Aiming stock for 2.8 million yen (about $20,000) before the same announcement.

Square Enix has released an official statement revealing that it is working with authorities in the investigation and taking appropriate actions against the suspected employees:

“We deeply regret the great concern this has caused to all involved. We took this case seriously, including taking internal disciplinary measures against suspected employees.”

Since launching Balan Wonderworld and leaving Square Enix, Yuji Naka has been embroiled in a lawsuit with the Japanese publisher and publisher, after he was apparently dropped from the game as director. about half a year before release”.

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