Former Sonic Team lead and game creator Yuji Naka has been arrested in connection to an ongoing Square Enix insider trading investigation surrounding Dragon Quest Tact.
Japanese news outlet FNN Prime Online reports the Sonic the Hedgehog creator is the latest suspect in the Dragon Quest insider trading incident at Square Enix. The Tokyo Public Prosecutors’ Office’s Special Investigation Department arrested Yuji Naka on suspicion of insider trading involving Aiming, developer of Dragon Quest Tact.
Currently, reports indicate Naka bought roughly 10,000 shares of Aiming for around 2.8 million yen, or $20,000, before Dragon Quest Tact’s reveal. At the time, he was working on Balan Wonderworld at Square Enix in January of 2020. Since Naka purchased the stock before the game’s announcement, he’s suspected of using insider information. Insider information would allow him to sell shares at a higher price following the announcement of Dragon Quest Tact.
Naka is the third suspect following the arrests of Taisuke Sazaki and Fumiaki Suzuki this Thursday. Sazaki and Suzuki reportedly purchased around 47 million yen (roughly $336,000) before the announcement of Dragon Quest Tact.
Square Enix released the following statement in full cooperation with the Tokyo District Public Prosecutors Office, courtesy of VGC:
“Today, some media outlets reported that the former employees of Square Enix were under investigation for suspected insider trading.
“We have been fully cooperating with requests from the Securities and Exchange Surveillance Commission. As the investigation by the Tokyo District Public Prosecutors Office is underway, we will continue to fully cooperate with the investigation.
“We deeply regret the great concern this has caused to all concerned. We have dealt with this incident strictly, including internal disciplinary actions taken against the suspected employees.”
Lastly, Dragon Quest Tact is currently available now for Android and iOS.
