Monday, March 4, 2013
DJ: Sony To Sell 17.7mn DeNA Shares To Nomura
TOKYO--Sony Corp. (6758) said Monday it has agreed to sell its entire stake in DeNA Co. (2432) to Nomura Securities Co. and will log a gain of about Y40.9 billion ($438 million) in the fourth quarter of its business year ending March 31.
The consumer electronics giant said the move to sell the 17.72 million DeNA shares is part of its efforts to reorganize its assets and strengthen its corporate structure as it looks to streamline its operations and portfolio.
Sony added that while it anticipated the sale at the time of its most recent earnings outlook issued last month, it is still evaluating the overall impact of its asset sales on its forecast for the fiscal year.
The company said last week it would book proceeds of Y41 billion for the quarter ending March from the sale of an office building in central Tokyo. It earlier sold a portion of its stake in M3 Inc. (2413), which engages in medical-related services using the Internet, to Deutsche Securities Inc.