Sony is trying to sell a Tokyo building in an effort to raise some cash for its ailing operation.
The Sony City Osaki building in Tokyo is on sale for between $1 billion and $1.5 billion, the Wall Street Journal is reporting today, citing sources with knowledge of the plans. The move follows a corporate decree passed down by CEO Kazuo Hirai to offload any nonessential assets as Sony attempts to regain its financial footing.
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Sony has watched its financials slip over the last several years. In the year ended March 31, 2012, Sony lost about $5 billion as revenue slid. Hirai is trying to revive Sony's operation by initiating a "One Sony" program aimed at realigning its focus on games, digital imaging, and mobile. Hirai has also laid off workers and shed assets.
The Sony City Osaki building has 25 stories... [Read more]
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