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Sony to sell all shares of its Japanese online games provider

Posted March 4th, 2013 at 16:41 EDT by Adam Dolge
3 Comments

Sony Corp officials expect to post a gain of 40.9 bill yet ($437 million) in recorded opearting income in the fourth quarter of the fiscal year ending this month. This news comes as Sony Corp today announced it will sell all the shares it owns in Japanese online game provider DeNA Co Ltd to Nomura Securities.

Back in January we reported that Sony Corp was in negotiations for the sale of its New York headquarters for $1.1 billion to investors. Sony, which has seen some tough financial situations as of late, was expected to gain $685 million in operating income after the repayment of debt related to the 37-story building. Sony also disclosed a $115 million loss in the third quarter. In February, the company sold its Osaki office building for $1.2 billion.

Sony's moves were to recover from its 457 billion yen loss for the financial year ending March 31, 2012.

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Comments

abcood
- 10:19pm EST - March 4th, 2013
- 1
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Tetsu
- 10:40pm EST - March 4th, 2013
- 2
Some idiot mod at the Gran Turismo forums called me a liar and banned me for a few days last year for stating that SONY was suffering losses and couldn't afford to bankroll Polyphony Digital like M$ could Turn 10 Studios. Oh well, Pyrrhic victory I suppose. At least they have some real estate they can turn into some much needed cash.
dirtydog1979 | DirtyDog1979
- 4:47am EST - March 5th, 2013
- 3
@ Tetsu I think SONY as a company is financially sound yes its made losses but all big companies have its how you manage them that counts and it seems SONY Corp has managed theres very very well, and for you Polyphony Digital remark what do you mean by Bankroll?