kowenicki said:
Yeah, a decent profit, but they did buy it over 10 years ago. The Tokyo building isnt the main HQ, its their second building. Its unlikely they made a profit on the Tokyo building though as they built it themselves and only completed it in 2011, commercial property prices are flat at best. But that isnt the point is it. They are cashing in on a balance sheet asset, and increasing outgoing spend through rent as a result, to spend the cash elsewhere. It is simply cheaper to do this than borrowing given their current horrible credit ratings and already huge debt levels. |
If I buy something and sell it for a higher price later on, it doesn’t matter when I purchased it, if I’m getting more money, that’s a gain on my investment. And Kaz repeatedly said during his interviews at CES that the company is going to continue to look at assets that are not core to their strategy and jettison them. So im expecting more announcements in the future for asset sales (except movies and music as he said they are not for sale)
Nokia just last month sold their HQ in Finland and there was not this much coverage (i.e a non event), insert Sony, thread explosion.
