Sony to Sell Stake in Mobile Game Company for Around $437 Million
The consumer-electronics and entertainment giant continues to unload non-core assets as it strives to streamline its operations and bolster its finances.
TOKYO – Sony will sell 17.72 million shares in online game and e-commerce portal DeNA to Nomura Securities and will book income of $437 million (40.9 billion yen) for the current financial quarter, the company said Monday.
Sony has recently sold its New York headquarters, a major building in Tokyo and a stake in an Internet medical-services company as it restructures following four years of consecutive losses.
The stake in DeNA, which operates the Mobage mobile-game platform, originally belonged to So-Net, a broadband Internet subsidiary that Sony made wholly owned last year in a $750 million deal.
Sony is selling its entire shareholding in DeNA to Nomura, Japan's biggest securities house, with the final price to be decided on Tuesday.
Sony shares closed up 48 yen at 1,438 ($15.37) on the Tokyo Stock Exchange on Monday before the sale was announced.
- MOST SHARED
- MOST POPULAR