Sony to Sell Shares in DeNA for $437M

by William D'Angelo, posted on 04 March 2013 / 3,264 Views

Sony has been looking to to streamline its business as it tries to turn a profit. As part of the streamlining Sony is going to sell all of its shares in the Japanese social games giant DeNA. Sony expects to sell its 17.7 million shares to Nomura Holdings Inc. for 40.8 billion yen ($437 million).

"Sony has identified certain assets for possible sale as part of an initiative to transform its business portfolio and reorganize its assets," read the statement. "This sale was conducted as a part of that initiative. While this sale was anticipated and the potential gain on the sale was taken into account at the time of the forecast, Sony is currently reevaluating the aggregate impact of this sale and other factors on the forecast."

"Sony is transforming its business portfolio and reorganizing its assets in an effort to strengthen its corporate structure," the statement added. "This sale is made as a part of that initiative."

Sony last week sold off its Sony City Osaki office in Tokyo for $1.2 billion, with net cash of $1.1 billion. Sony also sold off its US headquarters in New York City for $1.1 billion. After debts were paid Sony was left with $770 million.


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6 Comments

kowenicki (on 04 March 2013)

Not sure that selling shares is "downsizing". Its releasing cash from assets for other activities... but it isn't downsizing.


scat398 (on 04 March 2013)

agreed, sony is downsizing as they should, but these sales scream "we need cash and we need it now". I remember 3 or 4 years ago on this site talking about how Sony may not make it through the great recession, I still think they are a massive take over target for Samsung and sales like this always reaffirm that belief.


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DonFerrari (on 06 March 2013)

Scat and what would you say about the share Sony bought (if i'm not mistaken from Samsung) for around a Billion in a joint venture for TV, and the other hundred millions for Gaikai? People here comment on a belief that Sony is closing doors.


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VMEfinn (on 04 March 2013)

It is good business sense by Sony to raise $2 billion in cash from buildings that don't make it money, and from other divisions which dont make money, or are not in its core business line.


DonFerrari (on 06 March 2013)

And bet on markets that make sense to them, like Gaikai and buying the other TV company share in a joint venture... just hope this two gambles work out good together with PS4 and Vita.


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Somini (on 04 March 2013)

Looks like Kaz is still busy downsizing. Just get rid of anything that isn't profitable and get back in the game Sony.


drkohler (on 04 March 2013)

What does selling shares have to do with downsizing?


  • +1
platformmaster918 (on 04 March 2013)

agreed. They've obviously become bloated over the years and while its nice to have an influence on everything they need to get gaming, movies, Blu-ray players, TVs, and audio stuff (headphones and speaker) in order and make some profits.


  • +3
MARCUSDJACKSON (on 04 March 2013)

i hope it helps. lets keep up the good work Sony.


Devil_Survivor (on 04 March 2013)

This will help in the short run, but selling off assets for cash flow doesn't address the core of Sony's problem which is a lot of their divisions don't make a profit and in fact lose a lot of money. They to sell of or shut down some of them ,I'm looking at you tv division.


DonFerrari (on 06 March 2013)

I think this reestructuration is based on that, keeping or buying services/products that are expected to profit and growth and selling what is a drain. They bought Gaikai for a Hefty sum, and also the Samsung (or other company) part for another hefty sum in the last year.


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Otakumegane (on 04 March 2013)

So they're liquidating their assets for a desperate battle. Looks like they're going all or nothing on PS4.


DonFerrari (on 06 March 2013)

Curiously people that think Sony is selling on desperation forget it bought Gaikai por some thousand millions last year.


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