Yuji Naka charged with insider trading on Square Enix

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After being arrested twice, famed designer and programmer Yuji Naka has been charged with insider trading.

Naka has been formally charged (via NHK News) alongside his former colleague, Taisuke Sasaki, for their insider trading charges.

The actual indictment was released on December 7, but was not made public until this week.

It has been a few weeks since then, however, the Tokyo District Attorney’s Office has not released acknowledgment or disapproval of either case.

Yuji Naka was originally arrested for buying shares in developer Aiming, allegedly knowing they would be hired to develop mobile game Dragon Quest Tact – before it was announced.

Naka and Sasaki were later arrested on the above charge, along with another insider trading charge for developer Ateam – again before Final Fantasy VII: The First Soldier had been publicly announced.

It’s worth comparing the alleged insider trading between the two charges – Aiming only had Yuji Naka buying 10,000 shares, but he bought over 100,000 shares of Ateam.

Due to their investments in the two developers and the resulting increase in share value, Naka and Sasaki earned hundreds of millions of yen from the two investments.

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