Sony Sells Tokyo Offices for $1.2 Billion in Turnaround Plan
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Sony Corp. sold a building in Tokyo for 111.1 billion yen ($1.2 billion), its third major asset sale this year, as the company strives to avoid a fifth straight annual loss.
The world’s No. 3 TV maker will book a 41 billion-yen gain this quarter from selling the building in Shinagawa ward, according to a statement today. The company will lease the offices from the new owners, a group led by Nippon Building Fund Inc.