Sony Computer Entertainment Sells All its Square Enix Shares: Expects a Profit of 4.8 Billion Yen

Sony Computer Entertainment Sells All its Square Enix Shares: Expects a Profit of 4.8 Billion Yen

Sony Corporation just announced with a press release that Sony Computer Entertainment reached an agreement to sell all its 9,520,000 Square Enix shares to the financial firm SMBC Nikko Securities.

The sale is expected to net Sony about 4.8 billion yen (just south of 47 million dollars) in profits, even if the press release mentions that the final income from the sale will be released tomorrow.

The press release did not specify the reason behind the sale, but it’s possibly a move in live with earlier sales of assets aimed to consolidate the corporation’s overall financial situation.