twintail said:
If a Japanese firm is in full agreement to be acquired by a non-Japanese company (especially a gaming one), they very well can be. Just ask Digital Kids, Grasshopper, SNK, and Tango - all Japanese studios that were bought out from non-Japanese companies.
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These are small companies. Square Enix is way bigger than all of these. With bigger companies like SE the government would prevent a total buyout by foreign companies. Sony is a Japanese company though, but I personally still seriously doubt they are going to buy SE.