Sony to offload its shares of Square Enix

In a crazy turn of events Sony announced this morning that the company is selling all of its shares in Square Enix Holdings!

Square Enix

Who knows?

Sony currently holds 8.2% of Squares shares (making it Squares highest shareholder) but is offloading all 9.52 million of them to global financial company SMBC Nikko Securities Inc. Based on the current market value of the shares, Sony’s massive pile of digital holdings slips is valued at 16 billion Yen (roughly $156 million USD), while Sony is expecting to make a 4.8 billion Yen ($44 million USD) profit on the sale.

This one-off massive profit will be counted as “other income” in Sony’s financial results for the first quarter of the fiscal year. Sony will release how much green they actually made o this sale tomorrow, just encase accounting is your cup of tea!

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