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[Hammer24]

Sony Corp's Sony City Osaki building (C) is seen in Tokyo January 10, 2013. Sony Corp has put one of its main buildings in central Tokyo up for sale in a deal that could raise up to 100 billion yen ($1.14 billion) as the company seeks to sell non-core assets to boost its balance sheet, five people with direct knowledge of the deal said. Sony is trying to sell the 25-storey Sony City Osaki building, in what would likely be the biggest office property deal in more than three years in Japan's property market, which has been in the doldrums in the wake of the global financial crisis. REUTERS/Toru Hanai (JAPAN - Tags: BUSINESS REAL ESTATE)

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- the building currently houses Sony TV division, with ca. 5000 workers
- Sony is said to want to rent it back from the buyer

 

[7aged]

Sale and lease-back. Standard tactic for "releasing capital"

 

[Hammer24]

Sale and lease-back. Standard tactic for "releasing capital"

Sure thing. I´m just wondering how quick they´ll be able to pull this off in todays business climate. Maybe the quatative easing of the new Japanese government will help.

 

[i_am_ben]

Didn't Arizona sell off its State Capitol building in a similar move?

 

[Out of Working Order]

I'll buy it.

 

[fluffydelusions]

$599 USD

 

[SuicidalSteve]

$599.000.000 USD

Fixed

 

[gofreak]

They put their New York building on the market a few months ago too for around a billion.

Battery business might be for sale soon.

More monies for more Playstation acquisitions?

 

[Nicktendo86]

$599 USD

I lol'd

 

[bigtroyjon]

They put their New York building on the market a few months ago too for around a billion.

Battery business might be for sale soon.

More monies for more Playstation acquisitions?

More like more money for paying off maturing debt since they can't really go to the standard markets at this point.

 

[Boaty McBoatface]

$599 USD

Does anybody else read this in Kutaragi's voice? lol

 

[gofreak]

More like more money for paying off maturing debt since they can't really go to the standard markets at this point.

Clearly some of Sony's recent asset sales have been done with an eye on m&a while trying to keep the cash position reasonably healthy.

You can call it six of one, half a dozen of the other - i.e. they're selling things to avoid tapping credit for m&as - but it'll be interesting to see what else might be on the cards in terms of acquisitions. The Playstation reference is slightly tongue-in-cheek...a music related acquisition is apparently next in the works, but it would be cool if the game business got some more m&a capital or r&d boosts at some point out of all this.

 

[Arrowgigantic]

Does anybody else read this in Kutaragi's voice? lol

Wasn't it Kaz Hirai who said it?

 

[Hammer24]

More monies for more Playstation acquisitions?

Probably more monies for more Olympus acquisitions - now that they basically can´t get money from the market.

 

[sweetvar26]

I hope they are fine as a company and keep making the good products for the years to come.

 

[Diablo Rosso]

Seems like a typical move to raise money.