Sony sell Tokyo office building for 1.2 Billion dollars.

[VGhippy]

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.

That was just one example of a saving and there is no telling if they are paying any rent at all. Cleaning, Bills (electric/heating/water) Maintenance, Renovation, Japan's equivalent of council tax, it all adds up. If it did house 5000 employees it could be saving them more like 5-10 million a year in expenses easily. I might be underestimating even that.