Disclosure Update: Completion of Share Transfer with Change to Subsidiaries (Divestiture of Select Overseas Studios & IP)

Rhea-AI Summary

SQUARE ENIX HOLDINGS CO., LTD. announced the completion of a share transfer agreement with Embracer Group AB, finalized on May 2, 2022. This divestiture involves select overseas studios and intellectual properties, which may influence earnings for the fiscal year ending March 2023. The company is actively evaluating the financial implications of this transaction and will disclose any significant findings promptly.

Positive

• Completion of share transfer agreement with Embracer Group AB enhances strategic focus.

Negative

• Potential earnings impact for fiscal year ending March 2023 remains uncertain.

TOKYO--(BUSINESS WIRE)-- SQUARE ENIX HOLDINGS CO., LTD. (the “Company”) announced in a May 2, 2022 release entitled “Execution of Share Transfer Agreement with Change to Subsidiaries (Divestiture of Select Overseas Studios & IP)” that the Company signed a share transfer agreement with Sweden-based Embracer Group AB. Based on the agreement, the Company announced that share transfer was completed today.

The Company continues to carefully assess how the share transfer might impact earnings for the fiscal year ending March 2023 and will make an immediate announcement should any information warranting disclosure be identified.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220826005291/en/

Kazuka Nohara

Corporate Communications, SQUARE ENIX HOLDINGS

PR-HD@square-enix.com

Source: SQUARE ENIX HOLDINGS CO., LTD.

FAQ

What is the recent share transfer agreement involving SQNNY?

SQUARE ENIX completed a share transfer agreement with Embracer Group AB on May 2, 2022.

How might the share transfer impact SQUARE ENIX's earnings?

SQUARE ENIX is assessing the potential earnings impact for the fiscal year ending March 2023.

Who was involved in the share transfer agreement with SQUARE ENIX?

The share transfer agreement involves Embracer Group AB based in Sweden.

When was the share transfer agreement completed by SQUARE ENIX?

The share transfer agreement was completed on May 2, 2022.