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Forums - Sony Discussion - Sony to Receive 150 Million Dollars from Sale of its Square Enix Shares

Somini on 17 April 2014

Sony Computer Entertainment just sent a press release announcing further details on the sale of all its Square Enix shares to SMBC Nikko Securities.

According to the press release, the sale price is approximately 15.3 billion yen, which translates to about just south of $150,000,000.

The press release also mentions that Sony will receive net cash proceeds from the sale on April 21st, 2014.

No further detail was provided, but that’s quite a nice lump of cash.

http://www.dualshockers.com/2014/04/17/sony-earns-150-million-dollars-from-sale-of-its-square-enix-shares/



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Somini on 17 April 2014

I think they did good by selling these non-voting shares, not like they got anything out of it as Square-Enix hasn't been profitable for a while now!

The amount is great as it seems like it's almost 3 times as much as we thought they would get when this news first got published.



Gehirnkrampf on 17 April 2014

no buildings left?



must-have-list for platforms i don't own yet:

WiiU: Donkey Kong

XBone: Dead Rising 3, Ryse

Somini on 17 April 2014
Gehirnkrampf said:
no buildings left?

Can't comment without trolling?



Devil_Survivor on 17 April 2014

Looks like Q1 profit confirmed for Sony ;).



 

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walsufnir on 17 April 2014

Wasn't this posted yesterday? Ok, this time it's dollar instead of yen but still?



Somini on 17 April 2014
kowenicki said:
Hmmm. Basic lack of accounting understanding here.

Just $47m of that is profit.

Over $100m of it is the return of their OWN original investment.

So the profit gain that will show on the accounts next FY is $47m dollars. The rest is a balance sheet swap of an investment to cash.

$47m is a welcome windfall, but kinda tiny in the grand scheme of things for a company of this size.

47M in the plus is not bad news when your company is bleeding money. It's steps like this that will make them post big profits in a couple of years. It's the plan at least.



jlmurph2 on 17 April 2014

Next sale, Spiderman.



Somini on 17 April 2014
kowenicki said:
Somini said:
kowenicki said:
Hmmm. Basic lack of accounting understanding here.

Just $47m of that is profit.

Over $100m of it is the return of their OWN original investment.

So the profit gain that will show on the accounts next FY is $47m dollars. The rest is a balance sheet swap of an investment to cash.

$47m is a welcome windfall, but kinda tiny in the grand scheme of things for a company of this size.

47M in the plus is not bad news when your company is bleeding money. It's steps like this that will make them post big profits in a couple of years. It's the plan at least.

How?  Its a one off sale of an asset for cash.

It has zero impact on future profits.

They can invest the money or repay debt to pay lower interest? What do you think companies do with cash?



Somini on 17 April 2014
jlmurph2 said:
Next sale, Spiderman.


Why? I know why YOU are saying this. But Sony is smarter than that. Spider-Man makes them a lot of money.