Masafumi Miyamoto, Square's founder and owner of 40% of the company, has voiced discontent about the conditions of the merger between Square and Enix. A dispute over the exchange ratio of shares (100 of Square shares for 81 of Enix) threatens the merger, according to Enix chairman Yasuhiro Fukushima, who has called a special shareholder's meeting to vote on going ahead with the merger under the current plan. Gamers.com
Masafumi Miyamoto founded Square Co., Ltd. in 1983, and served as producer of the first three famicom Final Fantasy titles. He acted as president of the company until 1992, when he was succeeded by Tetsuo Mizuno. On his departure, he owned 50% of the company. His approval became a deciding factor during the merger negotiations between Square and Enix in 2002, though initially he resisted the decision that .81 shares of Square would be allotted for every 1 share of Enix.