HomeAnime News2 Square Enix Employees Arrested for Insider Trading - News

2 Square Enix Employees Arrested for Insider Trading – News

Both purchased shares in Dragon Quest Tact developer Aiming prior to game’s announcement

tactThe Tokyo District Public Prosecutors Office arrested two former Square Enix employees Taisuke Sasaki and Fumiaki Suzuki on suspicion of insider trading, or buying/selling stock on the basis of nonpublic information. Around November 2019, while working at Square Enix, Sasaki had learned that the company and Aiming were developing the Dragon Quest Tact smartphone game. Before the game’s announcement, the two purchased about 162,000 shares of Aiming for a total of about 47.2 million yen (about US$337,000).

Square Enix announced on Thursday that it is cooperating with requests from the Securities and Exchange Surveillance Commission and the Tokyo District Public Prosecutors Office to investigate the suspected insider trading. The company will take preventive measures by further tightening internal regulations and conducting more thorough employee education programs.

Dragon Quest Tact launched for iOS and Android devices in Japan in July 2020. The game launched in the West in January 2021. The free-to-play game includes in-app purchases. Aiming developed the game, and Square Enix is credited with planning and production.

Sources: Square Enix, FNN via Otakomu

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