Yuji Naka admits to insider trading in first day on trial

WCCFyujinaka.jpg

It's been a rough few years for Sonic the Hedgehog creator Yuji Naka, and his arrest late last year was certainly no exception. It revolved around accusations of him trading Square Enix stock (where he was employed at the time) before they announced their collaborations with Aiming Inc. (Dragon Quest Tact) and ATeam (Final Fantasy VII: The First Soldier) so that he could reap the rewards of high share prices. Today, Yuji Naka attended his first day in court in Japan's Tokyo District Court.

During the trial, he pleaded guilty to violating the Financial Instruments and Exchange Act, saying, "I was appointed as a senior manager because of my achievements in developing world-famous games as a game programmer at another major game maker. I accessed a website that posted about 'Dragon Quest' and found out about the joint development of new works in the 'Final Fantasy series', so I bought a total of 130,000 shares and earned a gain of over 20 million yen on sale."



:arrow: Sources: NHK / TBS DIG
 

Velorian

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This was clearly a strategic move and it seems like he may have made a deal with them. I'm curious if he sold out top execs at Square Enix in exchange for a plea deal.
 
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halfashark

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reminder that the dude is Actually Insane™ and i would also like to remind everyone that sometimes people aren't always doing some 5d chess mindgame nonsense.

sometimes they're just crazy.
 

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chrisrlink

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This was clearly a strategic move and it seems like he may have made a deal with them. I'm curious if he sold out top execs at Square Enix in exchange for a plea deal.
if top execs are also guilty (like all of them)will SE go bust despite being a video game powerhouse? I'd be watching this very closely
 
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Metoroid0

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Gotta go fast, bro!
To be honest, he might be doing illegal stuff, but who knows why he did it...
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reminder that the dude is Actually Insane™ and i would also like to remind everyone that sometimes people aren't always doing some 5d chess mindgame nonsense.

sometimes they're just crazy.
Those "crazy" come up with great games. So we need a bit of a crazy i guess haha.
 
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LightBeam

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Those "crazy" come up with great games. So we need a bit of a crazy i guess haha.
The great games is honestly debatable, even more today.

For God's sake he made fking Balan Wonderworld. People shouldn't give credits to this guy, or Keiji Inafune for the same reasons. Not until they complete their redemption arc and finally make a great game that will make people forget their missteps
 
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Spectremint

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The great games is honestly debatable, even more today.

For God's sake he made fking Balan Wonderworld. People shouldn't give credits to this guy, or Keiji Inafune for the same reasons. Not until they complete their redemption arc and finally make a great game that will make people forget their missteps
Didn't they oust him out of the project half way through though?
 
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toolazytosearchitmyself

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He could have contacted a trusted friend on Telegram or Signal and said "Invest in Square-Enix shares. We'll split the profits 50-50." I'm sure there are plenty of people who do this and haven't been caught.
 
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x65943

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He could have contacted a trusted friend on Telegram or Signal and said "Invest in Square-Enix shares. We'll split the profits 50-50." I'm sure there are plenty of people who do this and haven't been caught.
Do you really think no one would notice the bank transfers from his pal to him??
 
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