Sonic creator Yuji Naka has been arrested for insider trading. According to reports, he learned about the Dragon Quest Tact mobile game while working at Square Enix and purchased around 10,000 shares in developer Aiming Inc. in January 2020 before the game was announced. As a result, he and two other accomplices are being charged under the Financial Instruments and Exchange Act by the Tokyo District Public Prosecutors Office.
Former Sega and Square Enix developer Yuji Naka accused of insider trading
Yuji Naka is just one of three former Square Enix employees arrested in the case, according to Fuji News Network. It was previously reported that Taisuke Sasaki and Fumiaki Suzuki, who both previously worked on Dragon Quest titles, were charged with insider trading yesterday.
The three learned about the then-unannounced Dragon Quest Tact when working at Square Enix. They’re accused of using this knowledge to purchase shares of developer Aiming Inc. with the hopes they’d turn a profit when the game was revealed.
Naka is said to have purchased 10,000 shares for around 2.8 million yen (around $25,832.64 at January 2020 exchange rates). The other two had a significantly higher stake, with 162,000 shares at 47.2 million yen (around $435,464.53 at January 2020 exchange rates).
It’s known that Naka left Square Enix on a sour note after being removed as director of Balan Wonderworld. With these charges, we suspect Naka’s relationship with his former employer may be even more complicated than previously believed.