As part of its wider restructuring, Sony has announced it's selling its 13.14 percent stake in DeNA.
The 17.7 million shares are being bought by Nomura Securities.
Sony expects to gain approximately ¥40.9 billion (around $440 million) on the sale. The transaction will be recorded as 'other income' in its current quarter, which ends 31 March 2013.
Full details of the price it realises will be announced after the Tokyo stock market closes on 5 March.
Dash for cash
The move is a part of a wider push on Sony's part to 'transform its business portfolio and reorganise its assets to strength its corporate structure' i.e. raise cash and pay back debt.
Sony recently sold one of its Toyko offices for $1.2 billion.
The company is trying to recover from years of loss-making as it rebalances around three core pillars - gaming, digital imaging and mobile.
The launch of PlayStation 4 later this year will be a make-or-break situation in terms of medium term success.
Of course, this will be an expensive process, both in terms of retailing and marketing. This windfall will come in useful, particularly as credit rating agency Fitch downgraded Sony's debt rating to junk status, making raising investment on the open market very expensive.
[source: Sony]
News
Contributing Editor
A Pocket Gamer co-founder, Jon is Contributing Editor at PG.biz which means he acts like a slightly confused uncle who's forgotten where he's left his glasses. As well as letters and cameras, he likes imaginary numbers and legumes.
Top Stories
Feature
Mar 25th, 2024
5 takeaways from GDC 2024: The games industry reckons with key challenges, Godot competes with Unity, and AI was the big trend without the big announcements
Feature
Mar 25th, 2024
Hot Five: Epic’s app store plans, Turkey’s tax exemptions, and Call of Duty Warzone: Mobile finally releases globally
Events
Mobidictum Network Lisbon April 2024 | Europe | Apr 16th |
HIT Games Conference Istanbul 2024 | Apr 18th | |
App Promotion Summit London | Europe | Apr 25th |
Dubai GameExpo Summit 2024 | Middle East | May 1st |
Mobidictum Meetup Berlin May 2024 | Europe | May 7th |
Mobidictum Meetup Tallinn May 2024 | Europe | May 21st |
Israel Mobile Summit 2024 | Middle East | Jun 6th |
Mobidictum Meetup Barcelona September 2024 | Europe | Sep 1st |
Popular Stories
Feature
Mar 25th, 2024
5 takeaways from GDC 2024: The games industry reckons with key challenges, Godot competes with Unity, and AI was the big trend without the big announcements
Interview
Mar 22nd, 2024