Sony Sells its Shares in Square Enix

Sony Sells its Shares in Square Enix

Announced on Wednesday, April 16, Sony will be officially selling all of its shares the company has with Square Enix Holdings within the coming days.

As translated by Siliconera, the announcement states that Sony Computer Entertainment have come to an agreement with SMBC Nikko Securities, one of Japan’s largest brokerage firms, to allow for all of Sony’s 9,520,000 shares the company had in Square Enix to be transferred, which was about 8.2 percent of shares.

Allegedly, the transfer is expected to round up to a total of roughly 4.8 billion yen–which is about $47 million–of additional profits for Sony’s first quarter of 2014. An official announcement on the matter was released by Sony today , April 17.

Sony Online Entertainment recently announced its own post-apocalyptic zombie MMO, titled H1Z1 , which will be available to play in full “sometime soon.” The free-to-play title will launch on PC first, and then later on PlayStation 4. It will appear on Steam’s Early Access in about four to six weeks for about $20.

It was recently announced that Sony Computer Entertainment America’s Jack Tretton will be stepping down from his position of CEO at the end of March, ending his 20-year career at the company.

Sony also won’t be using Google’s recently announced Google Wear for its wearable products, it will be instead sticking with its own version of an Android-based operating system, due to the company already having invested in that particular route.

[ Siliconera ]

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