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Signs of Doom! Sony sells off its Square Enix stock

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DOOOOMED!

Fanboys and girls rejoice, for the corporations you've pledged your loyalty to have given you some extra ammo to use in your eternal conflict. It seems consumer electronics giant and PlayStation maker Sony has decided to offload all of the stock it holds in publisher and JRPG giant Square Enix. And I mean all of the stock, approximately 9.52 million shares, worth ¥4.8 billion ($47 million). 

Naturally, this caused an uproar in the game wars, and quite a few nerds took a tack similar to "Hah! Final Fantasy XIII sucked so bad that even Sony disowned Square Enix!", or "Sony must be doing terribly to be selling off the office furniture...and by 'office furniture' I mean 'stocks in a company they practically owned for much of the PS1 and PS2 eras'!"

Of course, there's a less...sexy explanation for all this, and it comes in line with Sony's ongoing movement towards slimming down, selling off extraneous assets (like its plush New York building) in the name of streamlining. A leaner company appeals more to shareholders and is, to use the business lingo, more agile, particularly since Japanese mega-conglomerates are known for their bloat.

So there's that. Sony itself hasn't offered a direct explanation, so all we've got at the moment is speculation. But hey, speculation's fun! That's why console wars exist, partly.

[Via Destructoid]

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Josh Tolentino
Josh TolentinoManaging Editor   gamer profile

Josh is Japanator's Managing Editor, and contributes to Destructoid as well, as the network's premier apologist for both Harem Anime and Star Trek: Voyager For high school reasons, he's called "u... more + disclosures


 


 



Filed under... #business #industry affairs #japan #sony #Square Enix

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