Sony sell Tokyo office building for 1.2 Billion dollars.

[irstupid]

deskpro2k3 said:

drkohler said:

deskpro2k3 said:
Selling off assets they don't need is good in the long run. Anything they don't need just leeches money away that can be put to better use.

Surely Kaz have a plan to dominate the world.

This has nothing to do with "Selling off assets they don't need". Obviously those employees need some place to work. Here is the whole problem explained for those who don't get it. Sony, like many other japanese TV makers, has too many plants and overproduces TVs that are too expensive.

How is this different to what I said?

Hardly call selling an office housing 5000 employees that they are still going to be using as being and asset they don't need.  They are still using it for min 5 years.  How is that something they don't need?  

Sony is not going to save any money worth mentioning by renting versus owning.  They will still be paying roughly same yearly as they did before on this building, the only difference is they now have 1.2 billion dollars in cash versus 1.2 billion dollar building.  

Thus they can use that 1.2 billion to pay the rent/utilities, pay for ps4, television, phone R&D, manufacturing, ect, or paying off debts and liabilities, ect.  

To those thinking Sony will be saving millions upon millions of dollars renting are delluding themselves.  If renting was soo much cheaper, no business would own their building.    There is not a single business you could ask that if given the choice would prefer to rent their building versus owning it.