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A regular up-date featuring articles written for publications

all over the world by FCCJ Correspondents

Sony Sells Video Game Maker Stake for $150 Million

In the Hollywood Reporter, Gavin Blair reports that Sony's sale is part of the financial restructuring to get its accounts back in the black

TOKYO -- Sony is selling its 8.25 percent stake in video game maker Square Enix for $150 million (¥15.3 billion) as part of its ongoing disposal of non-core assets, with the entertainment to electronics conglomerate battling to get back to profitability.  Sony expects to bank a profit on the sale of $47 million (¥4.8 billion) in the first quarter (April to July) of its current financial year. The shares will be bought by Japanese broker SMBC Nikko Securities, which is expected to sell them on to investors.  Read the article


Published in: Dispatches
Tag:: video games

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