Insider Trading Charges Officially Filed Against Yuji Naka

The renowned creator of Sonic, Yuji Naka, has been formally indicted on charges related to insider trading. According to reports from VGC, citing a now-deleted article by NHK, the Tokyo District Public Prosecutors Office officially charged Naka and former Square Enix employee Taisuke Sasaki by the end of December. The allegations against them involve utilizing confidential information - specifically, knowledge that Square Enix was collaborating with Ateam Entertainment on the mobile game Final Fantasy VII: The First Soldier - to make investments in Ateam. It is reported that Naka invested approximately ¥144.7 million (equivalent to $834,000) in around 120,000 Ateam shares before the game's official announcement. This led to his arrest for insider trading, alongside Taisuke Sasaki, in early December 2022. Naka had previously been arrested in November on similar grounds, accused of purchasing shares in the Japanese development company Aiming before the public announcement of Dragon Quest Tact.