Sony Sells Its 13% Share In Mobile Gaming Firm DeNA For About $440 Million

Posted on Mar 4 2013 - 1:35pm by Editorial Staff
 

Sony

The financially struggling Sony has sold its 13% shares in Japanese mobile gaming company DeNA to Nomura Securities for an estimated 40.9 billion yen (about $440 million). The move comes just a week after the $1.2 billion sale of company’s office building in Tokyo.

Detailing the purpose of sale, Sony says “it is transforming its business portfolio and reorganizing its assets in an effort to strengthen its corporate structure. This sale is made as a part of that initiative.”

The exact price of selling the 17,722,500 share will be revealed by tomorrow while the details is expected to close on March 7 and the net gain will be filed in company’s fourth quarter earnings report, which is due on March 31.

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Editorial Staff

Editorial Staff at I2Mag is a team of subject experts led by Karan Chopra.