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Square's Biggest Stockholder to Sell Shares

Masafumi Miyamtoto, the founder of Square, recently announced his intentions to sell a portion of his stock in the company. With an estimated 39% interest of the company's stock, Mr. Miyamoto is the company's largest single shareholder. Starting this week, Mr. Miyamoto is planning to offer 5 million shares of stock on the American and European markets in a planned sale being brokered by Solomon Smith Barney. While 5 million shares may sound like quite a lot, it is important to note that Mr. Miyamoto owns an estimated 236.8 million shares of stock in Square.

Square is the creator of the Final Fantasy franchise, as well as a host of other noteable RPGs. Although recent games such as Final Fantasy X and Kingdom Hearts have been financially successful for the company, the over $100 million loss from its movie project Final Fantasy: The Spirits Within has placed the company in murky financial waters. This in fact led to the conditions under which Sony was able to buy a 19% interest in Square. Stay with RPGamer for more coverage of Square's financial activities as they become available.


by Justin Harwood    
Sources: [Xengamers]
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