Sony Corp. announced that it is selling its Sony City Osaki office building for roughly $1.2 billion to the Nippon Building Fund and an unnamed investor. Sony will be able to remain in the building for five years under a new lease agreement, with Sony gaining at net of $1.19 billion after the sale, with $442.4 million coming this fiscal year.
“Sony has identified certain assets for possible sale as part of an initiative to transform its business portfolio and reorganize its assets,” said Sony in a statement. “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.”
Source: Sony.net
