Sony Plans To Sell Old Tokyo HQ

041GIWPThe electronics maker, Sony, is facing much loss in the market with failing to provide successful products. Considering its falling profits, now the company is apparently said to be looking to sell its former headquarters and surrounding buildings in the central Tokyo region of Japan.

The company is struggling to stall losses from its consumer electronics business, as this sale follows a fray of selling of properties in 2013. The most conversed about transaction was for $1.1 billion of Sony’s US headquarters at 550 Madison Avenue. The Japanese tech giant had also sold another building in Tokyo for the same value of $1.1 billion in February, last year.

Sony’s old HQ houses the company’s medical business, with other non-consumer related operations. It served as Sony’s headquarters from 1990 to 2007 and it is expected to fetch the company around 15 billion Yen ($146.5 million)

Recently, Sony also sold its PC business (Vaio) and focused on smartphones, games and cameras. Sony Electronics further revealed its plans to cut around 1,000 jobs in the US, as part of the company’s plan to reduce 5,000 employees, globally.

Source: EFY Times

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