Sony Moves Its City Osaki Building For $1.2 Billion As Part Of Transformation
The price is fairly wild. It's netting some 111.1 billion yen, which is around $1.2 billion U.S. As a result of the sale, Sony expects to realize a gain on the sale of approximately 41 billion yen, to be recorded as operating income, in the fourth quarter of the fiscal year ending March 31, 2013. In the short-term, Sony adds a huge amount of cash to its stockpile while also keeping the rights to be in the building, as to not have a major impact on those operations.
Sony stated that this sale was conducted as part of its ongoing "transformation," but it's unclear if more of these real estate moves (or otherwise) are in the pipeline.