When you think the story is over, there’s always something that keeps it going, doesn’t it? After we reported on the supposed insider trading incident that ended getting two former Dragon Quest developers arrested, we shortly heard the news that Balan Wonderworld director and former Sonic Team member Yuji Naka was also arrested on those exact charges, in a violation of the Japanese Financial Instruments and Exchange Act, which prohibits the use of confidential information in order to give yourself an advantage in the stock market.
Well, guess what? It happened again, as the Tokyo District Public Prosecutor’s Office has charged Yuji Naka with violation of such act again, as he was found out to be, alongside former Dragon Quest XI middleware manager Taisuke Sasaki, in possession of over 120,000 shares from Ateam, the development team for Final Fantasy VII: The First Soldier. Those shares are said to total over 144 million Japanese Yen worth, or a little over a million dollars USD at today’s rates, which is several times more than what the two are suspected of having initially paid back in 2021.
Really ironic, considering that First Soldier didn’t do all that well, as it announced its end of service for January 2023. Still, I will look forward to seeing this story’s conclusion because only time will tell what will happen from here onward.
UPDATE 12/27: NHK News just reported updates regarding the insider trading case involving game development at Square Enix. According to the news outlet, Yuji Naka and Taisuke Sasaki have now officially been indicted of violating the Financial Instruments and Exchange Law, as both individuals were profiting off stocks by utilizing confidential information. Special thanks to Genki_JPN on Twitter for finding the news.
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