UPDATE: Yuji Naka Reportedly 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 cell battle royale title Ultimate 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 cell recreation Dragon Quest Tact (see the complete unique story under). Japanese outlet Asashi (thanks Video Video games Chronicle) now stories that Naka and Sazaki are believed to have tried an identical scheme for the reveal of Ultimate Fantasy VII: The First Soldier.
Ashai notes that in February 2021, developer Ateam and Sq. Enix introduced a partnership to develop the cell battle royale title. Naka and Sazaki are mentioned to have recognized the particulars of this deal earlier than it turned public and acquired shares in Ateam in hopes of profiting off a better inventory worth stemming from The First Soldier’s reveal.
Naka is reported to have bought 120,000 shares for about 144.7 million yen (roughly over $1 million). Sazaki is accused of shopping for 91,000 shares for about 105 million yen ($767,000), in addition to passing this insider data to an acquaintance who additionally acquired shares. The investigation is ongoing so it is unclear the place issues will go from right here, however Sq. Enix beforehand acknowledged it’s totally cooperating with the Securities and Change Surveillance Fee and Tokyo District Public Prosecutors Workplace.
In October, Sq. Enix introduced it was shutting down Ultimate Fantasy VII: The First Soldier on January 11.
Authentic 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 recreation.
In accordance with the Japanese information outlet FNN, the final 24 hours noticed ex-Sq. Enix worker Taisuke Sazaki and his pal Fumiaki Suzuki arrested on suspicion for insider buying and selling. In 2020, developer Aiming had been set to announce its cell recreation Dragon Quest Tact, and Sazaki and Suzuki are alleged to have recognized particulars in regards to the recreation 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 increased inventory worth stemming from Tact’s announcement.
Yuji Naka is now suspected of being concerned on this scandal as nicely. He’s accused of buying 10,000 shares value 2.8 million yen (roughly $20,000) in Aiming for a similar function of benefiting from Tact’s reveal. Naka was apprehended by Tokyo District Public Prosecutors Workplace, and the investigation is ongoing. It’s at the moment 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 yr. In April, Naka publicly blasted Sq. Enix on Twitter over his removing as director from Balan Wonderworld previous to its launch, blaming Sq. for the recreation’s essential failure. This outburst got here after the conclusion of a lawsuit he’d beforehand filed towards the writer. Naka is finest often called the lead programmer behind the unique Sonic the Hedgehog video games for Sega Genesis and Nights into Desires.
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