Sony Sells Tokyo Office For $1.2 Billion

The company will remain a tenant.

Sony has confirmed that it's successfully disposed of its 25-floor Tokyo offices, Sony City Osaki, for the equivalent of $1.2 billion. The building will remain in use by about 5,000 Sony employees working mainly on TV and audio for five years, thanks to a leasing deal struck with new owners Nippon Building Fund and a Japanese investor. When built Sony City Osaki was the first to use a "bioskin" exterior, using natural water evaporation to cool it.

This is another in a long line of maneuvres designed to free Sony up of financially tricky situations: Recently Sony sold its New York office for about $1.1 billion, in a similar bid. This time it hopes to realise about $440 million from the sale, after costs and so on. The company reported a loss of about $114 million for the final quarter of 2012, helped by a weak Yen which offset slow sales of TVs and games consoles, but promised to return to profit by the end of its financial year. Key to pulling off this trick will be selling millions of its upcoming PlayStation 4 games machine.

[Image: Flickr user imuttoo]

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