Sony has announced it is dumping its entire 8.2% stake in Square Enix, although Sony maintains it is merely because it is strapped for cash and has nothing to do with Square Enix’s outstanding performance in recent years.
Sony Computer Entertainment’s 8.2% stake in Square Enix Holdings, totalling 9.52 million shares, is being liquidated for 4.8 billion yen.
Sony’s holdings originate from 2001 when difficulties experienced by the original Square led to it obtaining a substantial stake, which it maintained in the years to follow for “investment” and “management support” purposes.
Sony says the sale will not have any bearing on Square Enix software appearing on its platforms, not that non-social platforms seem to be of much interest to Square Enix of late.
It also maintains the sale is due to its own ongoing restructuring and not the performance of Square Enix – which has barely escaped rock bottom after the promising its own massive restructuring effort of continuing its reinvention as a mobile phone developer.
Square Enix’s latest RPG masterpiece – for the iPhone, of course: