Square Enix Explains Why Sony Sold Their Stocks

By Jared Scott on May 16, 2014, 11:01AM EDT

Last month, Sony made the unexpected decision to sell all of its Square Enix shares. While this initially raised some concern about the state of the relationship between the two companies, Square Enix producer Shinji Hashimoto was able to clarify the reason behind Sony's decision.

To explain Sony's intentions, Hashimoto provided some background knowledge on why Sony bought some of Square's stock in the first place. "Back in 2001, Square Enix had financial problems and Sony bought our stocks. Now, the situation is reversed. We did not have argument. Since Sony once helped us, it was time we helped Sony back."

Sony's financial troubles have become more and more apparent this year. While the video game division of Sony has done well, the rest of the electronics company has suffered. With the Wall Street Journal reporting that executives will receive a 50 percent pay cut and annual losses projected at $1.2 billion, it's no wonder that Sony would sell their shares in the stock market.

Source: Gemasutra

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