Why Sony Sold All its Square Enix Shares Revealed

Share.

It’s all about returning a favour.

By Luke Karmali

Sony’s decision to sell all of its shares in Square Enix is apparently the result of an agreement between the two companies, rather than any bad blood.
That’s according to Square Enix producer Shinji Hashimoto, who explained at Thailand’s Comic-Con (via Mognet Central) that from the start, the entire process had been about the two companies helping each other out.

“Back in 2001, Square Enix had financial problems and Sony bought our stocks,” he explained. “Now, the situation is reversed. Since then, we have had good support from our customers for our products, so Square Enix is back on its legs.
“But Sony has declined. The presidents of both companies had negotiation and resulted as everyone knew. We did not have argument. Since Sony once helped us, it was time we helped Sony back.”
While it’s possible Hashimoto is simply keen to put a good spin on the news, the facts certainly seem to line up with what we know. Square Enix announced earlier this week a return to profit, thanks to the efforts of Final Fantasy XIV, while Sony’s top-brass have announced pay cuts in the face of continuing losses.

Luke Karmali is IGN’s UK News Editor. You too can revel in mediocrity by following him on Twitter.

Originally written and published by at IGN PS3. Click here to read the original story.