Tech Sina is reporting that Sony is about to sell its Tokyo’s main office building in “Sony City Osaki” (Sony city of Osaki office) for 111 100 000 000 yen (approximately U.S. $ 1.2 billion).
[quote] After the sale, Sony will lease back the form to continue in the office building office for five years. Sony said that part of the proceeds will be included in the fiscal 2012 fourth quarter results, it is expected that the increase will be Sony about 41 billion yen (about U.S. $ 440 million) operating profit. Sony said in a statement: “Sony is adjust the business combination, reorganization of assets, in order to strengthen the corporate structure.”[/quote]
Last month, Sony sold its US headquarters in Manhattan for $1.1bn (£690m). At the time Sony stated that, “the motivation for the sale was to raise much-needed cash, expected to equal $770m, after debts on the building have been repaid,” according to the BBC.
The need for cash appears to the motivation for selling its Tokyo office too.