Sonic creator, Yuji Naka, pleads guilty in court to charges of insider trading
“There is no doubt that I knew the facts about the game before it was made public and bought the stock.”
Game developer and Sonic creator, Yuji Naka, pleaded guilty in court to charges of insider trading yesterday, March 2. The charges were made while the developer worked on Balan Wonderworld alongside publisher, Square Enix.
Ultimately, Yuji Naka had come to know that new Dragon Quest and Final Fantasy mobile games were being developed by Ateam Entertainment Inc. As a result of the information, Naka bought stocks in the company, anticipating that the announcement of the games would come soon after (via Denfa Minico Gamer).
A former employee of Square Enix, Naka has spoken publicly since 2020 in regard to Dragon Quest Tact, and Final Fantasy VII: The First Soldier (which he developed alongside Ateam). This information has led to the Naka being charged with insider trading, after purchasing stocks in each company.
Ultimately, Naka has since been found guilty of “violating the Financial Instruments and Exchange Act.” In court, Naka plead guilty to the charges, stating, “There is no doubt that I knew the facts about the game before it was made public and bought the stock.”
Yuji Naka worked for Sega between 1984 and 2006, becoming the creator of Sonic and taking a pivotal role in the series’ development. In 2006, Naka founded his own studio, Prope, which developed small games for mobile and the Nintendo Wii. Later, in 2018, Naka finally joined Square Enix, where he directed Balan Wonderworld in 2021.
Balan Wonderworld was not received positively in the slightest, and Naka later left Square Enix. In April 2022, Naka then sued Square Enix, claiming that he had been removed from Balan Wonderworld as director six months prior to its release. Ultimately, it’s been one hell of a ride for Yuji Naka.