This is not well known, but you're right. Square Enix do not own Dragon Quest. Armor Project and Bird Studio co-owns the franchise. Horii is literally the one in charge and everything goes through him. He's the one who makes the decisions of who develops the games and the direction the games take. Fun fact, nearly all Dragon Quest games weren't made by Enix or Square Enix.
Square don't own Kingdom Hearts either, so 2/3 of their biggest franchises they don't even own.
Armor Project, Bird Studio and SE all three co-own the franchise.
In Kingdom Hearts' case they only own the original characters like Sora afaik. The rest is obviously Disney stuff.Last edited by Kakadu18 - on 11 May 2022