9.52 million shares to be sold
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Sony is selling their stake in Square Enix, which comes to 9.52 million shares. They expect to gain 4.8 billion yen (about $47 million) in this sale, handing off the shares to SMBC Nikko Securities. A full disclosure of the sale proceeds is expected to be released tomorrow.
No reason was given for the sale in the release, but I’m sure something will come up in their financial results further down the road.
Sony has been selling things off for awhile now, including their U.S. and Tokyo headquarters buildings, as well as their PC business.
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