Sony sells another building: Tokyo office for $1.2 billion

They may post a profit this fiscal year.

Posted By | On 01st, Mar. 2013 Under News | Follow This Author @KartikMdgl


sony city osaki

Sony has been on an asset selling spree and after we reported earlier that they had sold their Madison Avenue NYC building for $1.1 billion, they have done the same thing but this time it’s their Tokyo office. They have sold it for a massive $1.2 billion.

Just like the NYC deal they will be leasing the building for 5 years where their staff and subsidiaries can do their jobs without any interruption.

The building was sold to Nippon building Fund, Inc. and another unnamed investor.

“Sony has identified certain assets for possible sale as part of an initiative to transform its business portfolio and reorganize its assets,” their statement reads.

“This sale was conducted as a part of that initiative. While this sale was anticipated and the potential gain on the sale was taken into account at the time of the forecast, Sony is currently reevaluating the aggregate impact of this sale and other factors on the forecast,” said the company in its statement.”

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