Sony looks to shed former Tokyo headquarters -- report

The company has reportedly entered into an agreement to sell the building for $146.5 million. It currently houses its medical business and non-consumer operations.

Sony is edging closer to ditching yet another building.

The company has entered into an agreement to sell its old headquarters in Tokyo for $146.5 million, Yhe Wall Street Journal reported on Friday, citing people who claim to have knowledge of the deal. The building, in central Tokyo, was the company's headquarters from 1990 to 2007. It's now home to the company's medical operation and other ancillary operations.

The impending sale is just the latest in a long line of asset sales that Sony has engaged in to improve its financial position. CEO Kazuo Hirai has been at working trying to raise cash and make his firm more agile, and has sold off a wide array of assets to do that. Last year, in fact, Sony sold for $1.1 billion its US headquarters on Madison Avenue in New York City. Still, Sony said earlier this month that it expects to post a $1.1 billion loss for its fiscal year ending in March.

Sony has not confirmed the news that it's planning to sell its former headquarters, but several reports out of Japan have also confirmed the news with sources. It's not clear when the deal will close.

About the author

Don Reisinger is a technology columnist who has covered everything from HDTVs to computers to Flowbee Haircut Systems. Besides his work with CNET, Don's work has been featured in a variety of other publications including PC World and a host of Ziff-Davis publications.

 

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