Sony sell Tokyo office building for 1.2 Billion dollars.

[happydolphin]

kowenicki said:

VGhippy said:
I know people keep saying this is just a one-off, but more will be saved in the long run as they will save on maintenance and staffing costs of such a large building. They will probably save about a million/yr alone on contract cleaners.

Which is absolute peanuts.

This is much bigger than that.  It is about converting an asset to working capital to ease cahflow, negate losses and for other ventures.    In any event they will now have a huge rent bill to offset those savings you listed.

The rent... good point. They're still in the building. But it's probably still well worth it for them, I'm also guessing they're getting a fair rate from their buyer as part of their contract.