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.