Sunday, April 20, 2014

SONY ditches all it's SQUARE ENIX stocks!!

Sony Computer Entertainment has sold all of its 9.52 million shares in Square Enix.

Sony refused to reveal the reasons behind the sale nor its monetary value. The company however promised to disclose the stock selling price in an official announcement tomorrow.

The stock was sold to SMBC Nikko Securities Inc. with an expected gain of around ¥4.8 billion ($47 million). Sony will record this money as "other income" in its consolidated financial results for the first quarter of the current fiscal year (ending March 31, 2015).

Square Enix has been in the red for several years before the last two quarters when it started posting profits again. The company's stock price reached its peak of ¥2895 in January 2014 but it continued to fluctuate and now it sits at around ¥1685.

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