Tag Archive: Sony


Sony Building Tokyo P

The conglomerate will book proceeds of $445 million in its current quarter for the sale of its Sony City Osaki building, following a similar deal for its U.S. headquarters.

TOKYO – Sony will book proceeds of $445 million (41 billion yen) for the current financial quarter after the sale of its Sony City Osaki office building in central Tokyo, the company said Thursday.

The electronics and entertainment giant sold the 25-story building to a Japanese property fund and institutional investor for $1.2 billion (111.1 billion yen) but will stay in the premises under a lease — an arrangement similar to the company’s recent sale of its New York headquarters.

The building currently houses approximately 5,000 employees, including the company’s crucial, but loss-making, TV division. Plans to sell the building, the second-largest of its properties in Japan after its HQ, were announced last month.

Also last month, Sony sold off part of its stake in internet medical-services company M3 to Deutsche Securities.

Sony has also been investing: it became the largest shareholder in Olympus Corp last week after increasing its stake in the troubled camera and medical equipment maker to 11.5 percent.

Read more here: http://bit.ly/YDUpx2

Sony shares have risen more than 50 percent since December when they hit a multi-decade low.

 

 

CBS Sony Logo Split - H 2012

Pivotal Research Group’s Brian Wieser said CBS would gain exposure in fast-growing countries.

CBS should buy Sony Pictures Entertainment, a Wall Street analyst said in a research note Tuesday.

Brian Wieser of Pivotal Research Group told clients that CBS will have cash for major acquisitions now that it has decided to turn CBS Outdoor in the Americas into an REIT while selling off the European portion of that business, as hollywoodreporter.com

“First and foremost, among potential targets we think that at the right price, SPE offers a very strong fit for CBS,” he wrote.

“If we assume SPE were worth around $10 billion in enterprise value and were capable of high-single-digit profit margins, such an acquisition would not be dilutive and would be strategically beneficial,” wrote Wieser. Read more about the article here: http://bit.ly/10vMIbW

The analyst also noted that CBS chief executive Leslie Moonves has expressed an interest in SPE.”Moonves indicated in the press that SPE is the kind of business that CBS would be interested in purchasing,” Wieser wrote. “However, Sony has reiterated several times that the division is not for sale.”

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