Sony Sells More Real Estate, Turns a Profit of $148 Million

Sony Sony Sells More Real Estate, Turns a Profit of $148 Million Sony announced on Thursday that they are selling yet another office building in Tokyo.

They've signed a deal to sell Building 5 to a Japanese real estate developer. The new owner has agreed to pay around 7 billion yen for the building, earning Sony a net profit of around 5 billion yen or $49 million.

This but the latest asset to be sold off as part of Sony's turnaround plan. Sony has also sold their US headquarter building and put their old Tokyo HQ on the market. Earlier this month Sony also sold Building 4 for 16 billion yen, netting Sony a profit of around 10 billion yen. Both of the recent real estate sales are going to be recorded as operating profit in the coming fiscal quarters.

Sony has also sold off their PC division, and last but not least they've started to shut down unprofitable retail operations. Sony has abandoned most of their retail stores in the US (and in other countries). The Sony Reader Store closed in North America, with the remainder being run by the German ebook firm txtr. Sony has also shuttered the Crackle streaming video service in the UK, citing too much competition.

On a related note, I am concerned that Sony might shutter the remaining Sony Reader Stores as soon as their contract with txtr is up. I wouldn't be too alarmed about the possibility; if or when that happens I would bet that any existing Sony customers will probably become txtr customers. Your account will simply transfer over.

Nate Hoffelder

View posts by Nate Hoffelder
Nate Hoffelder is the founder and editor of The Digital Reader: He's here to chew bubble gum and fix broken websites, and he is all out of bubble gum. He has been blogging about indie authors since 2010 while learning new tech skills at the drop of a hat. He fixes author sites, and shares what he learns on The Digital Reader's blog. In his spare time, he fosters dogs for A Forever Home, a local rescue group.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Scroll to top
%d bloggers like this: