Square Enix Employees Detained For Alleged Insider Trading [UPDATE: NOV 18]

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Square Enix news today involves a report of insider trading involving employees, stocks, and new Dragon Quest developer Aiming Inc. before the announcement.

It’s not news to say Dragon Quest is a popular license. Apparently, some former employees of the company that built the Erdrick legend find themselves in hot water regarding insider trading. The allegations aimed at the former Square Enix employees state that they purchased a wealth of stock from Aiming Inc., the company charged with developing Dragon Quest Tact for mobile devices, before the formal announcement was made in January 2021.

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According to the story-breaking Japanese website Automaton (Google Translated), with a Tweet from their official account follows:

“Sasaki and others are believed to have committed fraud in the stock trading of Aiming Co., Ltd., which works with Square Enix on new mobile games. Square Enix and Aiming’s recent efforts include “Gestalt Odin” and “Dragon Quest Tact“. Sasaki and others are suspected of buying about 47 million yen worth of Square Enix stock before it became public knowledge that Aiming would be involved in a new Square Enix game.”

A noteworthy development on the story happened today, with Square posting a piece showing their complete cooperation with authorities regarding the report of insider trading. In the statement, Square apologized for the misconduct and maintained they have “dealt with this incident strictly, including internal disciplinary actions taken against the suspected employees.”

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Aiming Inc. has seen a meteoric rise in stock revenue over the past month as well, with prices skyrocketing a massive 57%, but whether it ties to Dragon Quest Tact or not is merely speculation, considering they’re always revealing new events for their live service.

UPDATE: Sonic Developer, Yuji Naka Arrested After Being Connected To Aiming Insider Trading

Today, FNN reports the latest Square Enix saga involving employees and insider trading has gotten deeper. Yuji Naka, a leading programmer on the original Sonic the Hedgehog has been arrested in correlation with purchasing a reported 10,000 stocks in Aiming Inc. before the Dragon Quest Tact news was officially announced.

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In a Google translation of the article, it says “According to the special investigation unit, the suspect was an employee of the major game company Square Enix around the end of January 2020,” which meets the timeline set forth for potential insider trading.

With the latest developer arrest, it remains to be seen whether more employees have been involved in insider trading, but it’s worth noting this has only been an issue involving a few employees so far and not the companies involved at large.

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