Sony sells 8.58% stake in Square Enix

by Johnny Cullen on 16 April, 2014

Sony has announced it's to sell its stake in Square Enix.

The sale of Sony's 9.5 million shares in Square - that's an 8.58% stake in the company - will be made to SMBC Nikko Securities for a fee of ¥4.8 billion (around £28 million/$47 million) and will be part of the company's full-year financial results for the year ending March 31, 2015.

However, the sale will be mentioned for the company's upcoming full-year report for the year ending March 31, 2014 when it's published on May 14 as part of its forecast for FY2015.

The pricing of the shares will be announced tomorrow morning (April 17) Japanese Standard Time.