Sony Computer Entertainment announced this morning that it has sold all of its holdings - its entire 9,520,000 shares - in Square Enix to SMBC Nikko Securities.
An income of nearly ¥4.8 billion ($47 million) will result in a gain of around ¥4.8 billion ($47 million), which Sony will record as "other income" in its consolidated financial results for the first quarter of the current fiscal year (ending March 31, 2015). Sony's annual financial report for the year ending March 31, 2014 will be released on May 14 and will likely contain a forecast for the year ahead that will include the sale of the shares.
While it's a financial boost for Sony, it does mark the separation of two historically big Japanese gaming companies - a partnership that resulted in a strong Final Fantasy presence on PlayStation hardware over the years including a number of exclusive titles to the PlayStation brand.
Sony offered no reason for the sale, though it will disclose the official price in an announcement tomorrow.