Reason Behind Sony’s Sold Square-Enix Shares Revealed
The reasoning behind Sony’s selling of its Square-Enix shares has been revealed.
In an interview with Mognet Central, Square-Enix producer Shinji Hashimoto revealed that the selling of the shares was part of an agreement between the company and Sony.
“Back in 2001, Square had financial problem and Sony had bought our stocks. Now the situation is contrary. From that time we have good support from customers for our products, so SQEX is back on its legs, but Sony has declined. The President of both companies had negotiation and resulted as everyone knew. We did not have argument. Since once Sony helped us, so it was the time we help Sony back.”
Sony has recently fallen on hard financial times, with the company’s CEO and executives all reported to be taking pay cuts. Inversely, Square-Enix recently announced that it had seen positive software sales over the last fiscal year.