Sony to sell shares in mobile game company DeNA to boost profits

The Japanese electronics giant said it will book US$440 million, as part of its push to make a fiscal profit

Sony will sell off its holdings in mobile game firm DeNA for about US$440 million, the latest in a string of deals that could boost its bid for a profitable year.

The Tokyo-based electronics firm said Monday it will sell its 13 percent share stake, or 17.7 million shares, it holds in the mobile game company to Japanese financial giant Nomura Securities. The profits from the deal will be booked as income for the current financial year, which runs through March.

The stock sale is yet another large deal for Sony that will be recorded as a profit on its balance sheets for the current period. Heading into the last month of its fiscal year, the company has also recently announced the sale of a large Tokyo office complex for $1.2 billion, the sale of its U.S. headquarters for $1.1 billion, and the sale of shares in a medical subsidiary for $150 million.

Sony aims for a modest profit of about $210 million this year. That would mark its first return to the black in five years, a key goal of new CEO Kazuo Hirai.

Hirai has pledged to return Sony to its glory days. He has said he is personally overseeing the development of key products, even as he leads a restructuring that includes 10,000 job cuts and closing factories.

Join the Good Gear Guide newsletter!

Error: Please check your email address.

Tags business issuesCash managementbusiness managementsonyrestructuring

Our Back to Business guide highlights the best products for you to boost your productivity at home, on the road, at the office, or in the classroom.

Keep up with the latest tech news, reviews and previews by subscribing to the Good Gear Guide newsletter.

Jay Alabaster

IDG News Service
Show Comments

Essentials

Microsoft L5V-00027 Sculpt Ergonomic Keyboard Desktop

Learn more >

Lexar® JumpDrive® S57 USB 3.0 flash drive

Learn more >

Mobile

Lexar® JumpDrive® S45 USB 3.0 flash drive 

Learn more >

Exec

Lexar® Professional 1800x microSDHC™/microSDXC™ UHS-II cards 

Learn more >

Audio-Technica ATH-ANC70 Noise Cancelling Headphones

Learn more >

Lexar® JumpDrive® C20c USB Type-C flash drive 

Learn more >

HD Pan/Tilt Wi-Fi Camera with Night Vision NC450

Learn more >

Budget

Back To Business Guide

Click for more ›

Most Popular Reviews

Latest News Articles

Resources

GGG Evaluation Team

Michael Hargreaves

Dell XPS 13

I’d happily recommend this touchscreen laptop and Windows 10 as a great way to get serious work done at a desk or on the road.

Kathy Cassidy

STYLISTIC Q702

First impression on unpacking the Q702 test unit was the solid feel and clean, minimalist styling.

Anthony Grifoni

STYLISTIC Q572

For work use, Microsoft Word and Excel programs pre-installed on the device are adequate for preparing short documents.

Steph Mundell

LIFEBOOK UH574

The Fujitsu LifeBook UH574 allowed for great mobility without being obnoxiously heavy or clunky. Its twelve hours of battery life did not disappoint.

Andrew Mitsi

STYLISTIC Q702

The screen was particularly good. It is bright and visible from most angles, however heat is an issue, particularly around the Windows button on the front, and on the back where the battery housing is located.

Featured Content

Latest Jobs

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?