Sony did own 8% of Square Enix. Emphasis on the “did.” Sony has revealed that they will be selling all of their Square Enix shares to SMBC Nikko Securities for a good amount of money.
Sony has held on to 9.5 million Square Enix shares for over a decade, making it the third-largest owner, but it looks like that time has come to an end. The Wall Street Journal reports that the stock will sell for Y4.8 billion, which is about $47 million. This will be a one-off profit for the Fiscal Quarter ending in June. The exact price for the shares will be announced on Thursday.
Sony and Square Enix were strong backers of each other during the PlayStation and PS2 eras. Almost every game released by Square Enix was exclusive to Sony platforms, including Final Fantasy and Kingdom Hearts. Things changed this past generation with games like Star Ocean 4 and Infinite Undiscovery being released exclusively on Xbox 360. In 2008, Square Enix shocked the world by announcing that Final Fantasy XIII would be launching on both PS3 and Xbox 360. Now, with Final Fantasy XV and Kingdom Hearts III announced for both PS4 and Xbox One, there isn’t a reason for Sony to hold onto those shares.
We’ll keep you updated when the exact price for the shares are announced.