On September 1, Square Enix issued a statement to shareholders, formally denying reports about the company's "potential privatization," stating that such claims were baseless.
Earlier that same day, the September 2026 issue of the Japanese monthly magazine Shukan Bunshun reported that there were reasons to speculate that publicly traded company Square Enix would move towards privatization, claiming that these rumors were "more credible than ever before." The report had such a significant impact that it briefly caused Square Enix's stock price on the Tokyo Stock Exchange to rise.
In response, Square Enix explicitly denied the report in its statement, indicating that the company had never made any announcements regarding privatization plans, and that the claim of "considering privatization" was completely false.
Recently, several major game companies have moved towards privatization. The most typical example is Electronic Arts, which was recently acquired by a consortium including Saudi Arabia's Public Investment Fund and subsequently became a private company. Additionally, Devolver Digital's stock price has continued to fall since its listing in 2021; even improvements in business performance failed to reverse the downward trend. Earlier this month, rumors emerged that it had proposed a delisting plan to investors.
Meanwhile, CD Projekt RED's stock price dropped after the official announcement of The Witcher 3's major expansion, "Blood and Wine," at Gamescom, drawing attention from the industry. The stock prices of listed game companies are no longer influenced solely by the reputation and sales of released games; works in development or even a single announcement can cause significant fluctuations.
Last year, activist investor 3D Investment Partners increased its stake in Square Enix and proposed bold management reforms, causing concern among players. In any case, these recent privatization speculations have been explicitly denied by the company.