Sony sell Tokyo office building for 1.2 Billion dollars.

[happydolphin]

Chandler said:

outlawauron said:

Chandler said:
Looks like Sony is betting everything on the PS4. Good luck.

Why does this news mean they're putting everything they have into the PS4 basket?

Because sell and lease back is most of the time just a short term relief. Right now, their business model is not profitable. But nonetheless they sold their buildings for liquidity and added another source of running costs on their balance sheet in form of rent. I don't think rent in Manhattan and Tokyo is cheap.

 

I think because Sony's credit rating is pretty bad they had to do this to get some liquidity because they probably only get shitty deals from banks right now. 

That's not what he asked you though. He asked why you think they'll use that money purely on the PS4, or betting on the PS4. What about their other businesses?