Troubled Sony to sell off shares in social networking company DeNA
AFPTOKYO -- Sony on Monday announced plans to sell its entire holding in social networking firm DeNA, as the Japanese electronics giant offloads assets to help repair its tattered balance sheet.
March 5, 2013, 2:33 pm TWN
The company said it would log a gain of about 40.9 billion yen (US$437 million) from the sale to Japan's top brokerage house Nomura Holdings. It did not immediately disclose the sale price.
Last week, Sony said it had sold one of its main buildings in Tokyo for US$1.2 billion, as the maker of Bravia television and PlayStation game consoles eyes a net profit for the fiscal year to March, its first in four years.
Since January, Sony has also said it would sell its U.S. headquarters in Manhattan for more than US$1 billion and book a US$1.2 billion gain from selling part of an online medical services unit.
The company has launched a massive corporate overhaul that includes thousands of job cuts, the sale of a chemical division and an investment in Olympus to tap the camera and medical equipment maker's strong foothold in the global market for endoscopes.