Additional investigation into Sq. Enix inventory offenses

Yuji Naka, Sega veteran and co-creator of the Sonic the Hedgehog franchise, has reportedly been arrested for the second time as the results of an investigation into insider buying and selling at writer Sq. Enix. In line with Japanese information outlet Asahi, (reported by VGC), the brand new arrest is in reference to extra situations of inventory manipulation carried out throughout Naka’s time with the writer.

On this case, Naka, alongside fellow former Sq. Enix worker Taisuke Sazaki, is suspected of investing in Japanese developer ATeam Leisure, forward of the announcement that stated studio can be engaged on 2021 cell launch Ultimate Fantasy VII: The First Soldier. Naka is accused of buying 120,000 shares in ATeam at a value of round ¥144.7 million yen (roughly $834,000 USD).

Again in mid-November, Naka was arrested beneath comparable suspicions as the results of an investigation by the Tokyo District Public Prosecutors’ Workplace Investigation Division. On this occasion, Naka, Sazaki, and third worker Fumiaki Suzuki had been accused of buying inventory in studio Aiming, forward of the announcement that the developer can be engaged on Dragon Quest: Tact. On this occasion, Naka is suspected of getting bought ¥47 million (roughly $336,300 USD) of shares earlier than public announcement.

“Now we have been totally cooperating with requests from the Securities and Change Surveillance Fee,” stated Sq. Enix in a press release printed in November. “Because the investigation by the Tokyo District Public Prosecutors Workplace is underway, we are going to proceed to completely cooperate with their investigation.”

“We deeply remorse the nice concern this has brought on to all involved. Now we have handled this incident strictly, together with inside disciplinary actions taken in opposition to the suspected workers.”

Naka left Sq. Enix in 2021, following the crucial and business failure of colourful platformer Balan Wonderworld. Naka would later file swimsuit in opposition to his former writer, arguing that he had been faraway from the mission six months forward of its eventual launch.