informa
1 MIN READ
News

Ex-Square Enix employees arrested for alleged insider trading

The accused Square Enix devs allegedly bought stock in developer Aiming Inc. ahead of its announcement of a mobile Dragon Quest game.

According to Automaton (translated by Google), a pair of former Square Enix employees were arrested on suspicions of insider trading. Those two employees, Fumiaki Suzuki and Taisuke Sasaki, had allegedly used information learned during their time at the publisher to buy stock for Japanese developer Aiming Inc.

In a translated statement, Square Enix confirmed that it had been contacted by the Tokyo District Public Prosecutors Office, and that it would "continue to fully cooperate with the investigation."

Both Suzuki and Sazaki reportedly purchased nearly ¥47 million (or $336,000) in Aiming's stock and planned to sell it at a higher value. The two purchased this stock before it was announced that Aiming was developing Dragon Quest Tact, a mobile game based on Square Enix's popular franchise. 

Dragon Quest Tact released in Japan in mid-2020, and was was announced earlier that year. Both Sasaki and Suzuki were employees for Square Enix around that time, and previously helped develop Dragon Quest XI and Dragon Quest X, respectively.

To prevent insider trading in the future, Square Enix has prohibited "the stock trading of the Company and listed companies that have the business relationship with the Company before important non-public information is disclosed." 

Further, Square Enix said it will be "tightening internal regulations and conducting more thorough employee education programs."

Latest Jobs

Xbox Game Studios

Redmond, Washington
10.5.22
Technical Lighting Artist

Innogames

Hamburg, Germany
10.5.22
Game Designer - Elvenar

Six Foot

Houston, TX
10.3.22
Six Foot Director, Player Relations

Hometopia Inc.

Remote
10.7.22
Lead Engineer
More Jobs   

CONNECT WITH US

Explore the
Subscribe to
Follow us

Game Developer Job Board

Game Developer Newsletter

@gamedevdotcom

Explore the

Game Developer Job Board

Browse open positions across the game industry or recruit new talent for your studio

Browse
Subscribe to

Game Developer Newsletter

Get daily Game Developer top stories every morning straight into your inbox

Subscribe
Follow us

@gamedevdotcom

Follow us @gamedevdotcom to stay up-to-date with the latest news & insider information about events & more