Sonic Creator Yuji Naka Admits to Insider Trading
Appearing in Tokyo District Court this week on financial crimes charges, Sonic the Hedgehog creator Yuji Naka acknowledges that he was involved in insider trading during his time at Square Enix. The creator of the iconic Blue Blur and former head of Sega’s Sonic Team, Yuji Naka was arrested for insider trading in late 2022 along with two other employees of Square Enix.
An icon of the industry, Yuji Naka began his career in gaming at Sega in the 1980s working on titles for the company’s initial foray into the console market, the SG-1000. After helming franchises like the popular Phantasy Star series of RPGs, Naka was tasked in 1989 with creating a mascot that could rival Nintendo’s popular Super Mario Bros. franchise. Taking the platforming mechanics of Nintendo’s hit series and adding a bit of attitude along with a serious dose of speed, Naka eventually settled on a design for what would become the first Sonic the Hedgehog game. While Sega would eventually exit the home console market in 2001, the Sonic franchise would continue to grow, with the company recently announcing that 2022’s Sonic Frontiers has «greatly exceeded» sales expectations.
Sega Reveals Sonic Frontiers Sales Numbers
In a story originally published by Japanese news outlet NHK, it's been revealed that Yuji Naka has admitted in court to violating Japan’s Financial Instruments and Exchange Act as part of an insider trading scheme while working at Square Enix. Naka has been charged with using insider information about unannounced games in some of Square Enix’s most popular franchises to purchase shares in the developers of those titles, stating to the court that «There is no doubt» that he used confidential knowledge for his own financial gain. Initially
Read more on gamerant.com
