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Sony to sell DeNA shares for $440m

Sony to sell DeNA shares for $440m

Mon 04 Mar 2013 8:31am GMT / 3:31am EST / 12:31am PST
PublishingDevelopment

Nomura Securities to buy 17.7m shares in Japanese mobile gaming firm

Sony Corp. will sell its shares in the Japanese online gaming firm DeNA for around $440 million.

In a statement issued today, Sony confirmed that it would sell 17.72 million shares of DeNA stock to Nomura Securities. The transaction will add around 40.9 billion ($438m/291m) to its fourth fiscal quarter earnings - Sony will reveal the exact amount tomorrow.

"Sony is transforming its business portfolio and reorganising its assets in an effort to strengthen its corporate structure," the statement read. "This sale is made as a part of that initiative."

So far, that initiative has also resulted in the sale of office buildings in Tokyo and New York City.

1 Comment

Wow, the sell-off of the crown jewels continue. Unlike the buildings, this would be a very profitable chunk of shares.

Still, its good for Sony to kill some of that debt and have some cash available for spending. They are going to need it for the upcoming PS4 battle...

Posted:A year ago

#1

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