Needs more cash to 'strengthen corporate structure'.
Sony is selling its entire stake in social-game website operator DeNA for $437 million, as part of an effort to transform its business portfolio and reorganize assets.
Sony has announced that it will sell its entire stake in social-game website operator DeNA.
By selling its 17.7 million shares in the company, Sony will book a gain of ¥40.9 billion ($437 million).This sale was part of Sony's effort to transform its business portfolio and reorganize assets in a move to "strengthen its corporate structure."
Reuters reports the company is selling the shares to Nomura Securities. The income from the sale will be posted in Sony's fourth quarter financials.
This all ties into Sony's announcement in February that it would end its fiscal year in March with an operating profit, which was quite the surprise given the state of the company.
This shows how desperate Sony is getting. They are going under fast. PS4 will not save them.
I would have to agree, much as I would like to disagree I simply cannot. Hardly a week goes by with out seeing some sort of "Sony is selling X" companies that are doing well usually buy things not sell them (ironically in Sony's case, people are not buying from them!).
I suspect Sony is pretty much "broke" at this point in time, they keep posting enormous losses... Eventually they will run out of stuff they do not need and begin to sell things they do need, like say main office buildings. At that point the end is getting really close.
Maybe Sony will sell it's movie studio or music division next? The movie division have at least posted some small profits (very small but when the rest of the company is bleeding billions of dollars in a quarter, 112 million dollar profit looks awesome.)
Well it was a great run while it lasted, the PS1 and PS2 will forever be some of my favorite game systems.