UPDATE: Yuji Naka Arrested Again For Another Insider Trading Scheme
Replace, 12/7/2022: Balan Wonderworld director Yuji Naka has been re-arrested on a second cost of insider buying and selling, this time involving the cellular battle royale title Last Fantasy VII: The First Soldier.
Final month, Naka and former Sq. Enix worker Taisuke Sazaki had been arrested on suspicion of shopping for shares in developer Aiming after studying upfront in regards to the workforce’s announcement of its cellular sport Dragon Quest Tact (see the total unique story under). Japanese outlet Asashi (thanks Video Video games Chronicle) now stories that Naka and Sazaki are believed to have tried the same scheme for the reveal of Last Fantasy VII: The First Soldier.
Ashai notes that in February 2021, developer Ateam and Sq. Enix introduced a partnership to develop the cellular battle royale title. Naka and Sazaki are stated to have recognized the particulars of this deal earlier than it grew to become public and shopping for shares in Ateam in hopes of profiting off the next inventory worth stemming from The First Soldier’s reveal.
Naka is reported to have bought 120,000 shares for roughly 144.7 million yen (roughly over $1 million). Sazaki is accused of shopping for 91,000 shares for roughly 105 million yen ($767,000), in addition to passing this insider data to an acquaintance who additionally acquired shares. Sq. Enix beforehand acknowledged it’s totally cooperating with the Securities and Change Surveillance Fee and Tokyo District Public Prosecutors Workplace’s investigations.
In October, Sq. Enix introduced it was shutting down Last Fantasy VII: The First Soldier on January 11.
Unique Story, 11/9/2022: Legendary Sonic designer and Balan Wonderworld director Yuji Naka has been arrested in Tokyo in connection to an insider buying and selling investigation involving the reveal of a Dragon Quest sport.
In keeping with the Japanese information outlet FNN, the final 24 hours noticed ex-Sq. Enix worker Taisuke Sazaki and his good friend Fumiaki Suzuki arrested on suspicion for insider buying and selling. In 2020, developer Aiming had been set to announce its cellular sport Dragon Quest Tact, and Sazaki and Suzuki are alleged to have recognized particulars in regards to the sport earlier than it was publicly revealed. The pair reportedly bought a mixed 162,000 shares of Aiming for roughly 47.2 million yen (or over $335,000) upfront with the intent of profiting on a doubtlessly greater inventory worth stemming from Tact’s announcement.
Yuji Naka is now suspected of being concerned on this scandal as properly. He’s accused of buying 10,000 shares value 2.8 million yen (roughly $20,000) in Aiming for a similar goal of cashing in on Tact’s reveal. Naka was apprehended by Tokyo District Public Prosecutors Workplace, and the investigation is ongoing. It’s at present unknown if the suspects nonetheless personal their shares or in the event that they already offered them.
That is the second main controversy Naka has discovered himself concerned with this 12 months. In April, Naka publicly blasted Sq. Enix on Twitter over his elimination as director from Balan Wonderworld previous to its launch, blaming Sq. for the sport’s vital failure. This outburst got here after the conclusion of a lawsuit he’d beforehand filed towards the writer. Naka is finest often known as the lead programmer behind the unique Sonic the Hedgehog video games for Sega Genesis and Nights into Desires.
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