Categories: Tech & Society

After NYC, Sony Now Sells Its Tokyo Office for $1.2 Billion

Sony has officially announced the sale of its Sony City Osaki office in Tokyo for 111.1 billion yen ($1.2 billion) as part of its ongoing restructuring. However, it will continue to remain there for the next five years.

The 25 storey building housing around 5,000 employees has been bought by the Nippon Building Fund and an undisclosed Japanese institutional investor.

“Sony is transforming its business portfolio and reorganizing its assets in an effort to strengthen its corporate structure. This sale was conducted as a part of this reorganization,” an announcement read.

Last month Sony sold-off its NYC office for $1.1 billion. Also, recently they have announced details about their latest Playstation 4 in a strange way without actually having a device on display.

Sony’s consolidate financial forecast for the ficasl year ending March 31, 2013, which was announced on February 7, 2013, and its consolidated financial results for the fiscal year ended March 31, 2012.

(Yen in billions)
Sales and operating revenue Operating income (loss) Income (loss) before income taxes Net income (loss) attributable to Sony Corporation’s stockholders
Consolidated financial forecast for the fiscal year ending March 31, 2013 6,600 130 150 20
Consolidated financial results for the fiscal year ended March 31, 2012 6,493.2 (67.3) (83.2) (456.7)

Well, whether 2013 will be the year for Sony is something we’ll have to wait and watch.

Prateek Panda

Prateek is the Founder of TheTechPanda. He's passionate about technology startups and entrepreneurship and enjoys speaking to new founders every day. Prateek has also been consistently regarded as one of the top marketing experts in the region.

Recent Posts

Once more with feeling: An ambitious bid to build a digital Disneyland for fans

This entrepreneur, who entered the startup ecosystem when he was only thirteen years old, wants…

6 days ago

From UPI to Web3: How India’s fintech wave is reshaping the future of payments

India’s fintech sector is accelerating at breakneck speed, with digital payments becoming the new default…

2 weeks ago

AI Launches: SaaS, content management, ecommerce, cybersecurity, logistics, entertainment, & investment

The Tech Panda takes a look at recent launches in the superfast field of Artificial…

2 weeks ago

M&A: The art of the deal

The Tech Panda takes a look at recent mergers and acquisitions within various tech ecosystems…

2 weeks ago

AI companion: From comfort to concern, are we flirting with “Addictive Intelligence”?

Strange are the ways in which Artificial Intelligence (AI) has been offering us humans companionship.…

2 weeks ago