Sony has announced that it is selling all 9.52 million shares it owns in Square Enix to global financial company SMBC Nikko Securities Inc. The move comes as Sony continues to streamline its portfolio and operations. The number of shares sold represents a stake of 8.2 percent of Square Enix, which will make SMBC Nikko one of the largest shareholders in Square Enix.
The sale is expected to yield some 4.8 billion Yen (RM1.5 billion), although Sony will only record it during the the financial year ending 2015. Analyst suggest that the sale of the shares is far below the actual market value of the shares which stands at 16 billion Yen (RM5 billion). The final value of the sale is expected to be announced later today.
Sony has been selling assets and restructuring their business by selling off their Tokyo headquarters and the Vaio PC division. Seeing the progress Sony has made in the last year or so, it’s exciting to see what’s next for the Japanese giants.