Former Sonic Team boss Yuji Naka has once again been charged by the Special Investigation Department regarding insider trading in Japan. Yuji Naka and another former employee at Square Enix were charged with another count of violating Japan’s Financial Instruments and Exchange Act. Mr. Naka is now accused of purchasing an additional 120,000 shares of mobile developer Ateam before they launched the iOS and Android game, Final Fantasy VII: The First Soldier in 2021 (now shut down). Mr. Naka was previously charged with purchasing shares in a company developing a Dragon Quest game for iOS and Android in which he allegedly made “hundreds of millions of yen.” A person with knowledge in the matter told Yahoo Japan that because it is a first offence and he didn’t get rich from the insider trading while working for Square Enix, Mr Naka will most likely be handed a suspended sentence by a judge.
“In the case of Naka, since it is his first offence and the amount of money is small, he will probably be given a suspended sentence.”