Sony plans to sell all 9.5 million shares of their Square Enix stock

by: Sam -

Sony's past fiscal year was rough, and in February they reported a loss of $1.1 billion for the period ending on March 31st, 2014. This loss resulted in a number of changes for the company including some company closures and layoffs. Today Sony Computer Entertainment, Inc. announced that they will be selling all of their Square Enix stock (9.52 million shares) which will get they about $47.1 million in a trade with SMBC Nikko. The sale will take place on April 17th.

Sony and Square have had a strong partnership ever since Squaresoft made the move to Sony hardware shortly after the release of the PlayStation. Some of Square's most beloved games released exclusively on Sony hardware, but now Square Enix has started taking most of their big series multi-platform. Did that have an effect on Sony's decision to sell the stocks, or was it purely business? Will this affect their relationship? Only time will tell. 

Source: gameinformer.com

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