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Forums - Sony - Sony sell Tokyo office building for 1.2 Billion dollars.

JOKA_ on 28 February 2013

Gettin lean, gettin money.



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Conegamer on 28 February 2013

Another building sold, eh? Must be to try and show a profit I'd imagine. Dangerous road, though.

There's no going back now. A weak PS4 start (like the Vita's) and they'll be in some real trouble. And this isn't including their other businesses.



 

Here lies the dearly departed Nintendomination Thread.

gentii on 28 February 2013

i Love u Sony so Much,Dont Let Samsung and Apple to throw down U



ethomaz on 28 February 2013

Official Sony PR.
http://www.sony.net/SonyInfo/News/Press/201302/13-030E/index.html
Seems to be posted in March 31th, 2013 results... so both buildings sale posted in this fiscal year.



VGhippy on 28 February 2013

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.



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Train wreck on 28 February 2013
kowenicki said:
ethomaz said:
Official Sony PR.
http://www.sony.net/SonyInfo/News/Press/201302/13-030E/index.html
Seems to be posted in March 31th, 2013 results... so both buildings sale posted in this fiscal year.


Yeah we already said that.

They should make a market annoucnement soon that profit forecast is adjusted up.    Surely it must be after over $1.2bn income from the two properties plus the sale of the other interests. 

Why would sony do that?  Most analyst will just back out the income gaines from the asset sales to get a clear picture of how the company is doing operationally.  Only reason sony would raise is if products are selling above expectations, which would require growth, which is lacking in the world at the moment (hince the restructuring and asset sales).



hivycox on 28 February 2013

wow Sony has obviously no money left....

They are doooooooomed



TruckOSaurus on 28 February 2013

And where are they transferring the 5,000 employees?



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happydolphin on 28 February 2013
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.



Heavenly_King on 28 February 2013
Kynes said:
Now launch PS4 with $150 loss and 8 million consoles later you will have burned all your cash.

yeah, if they take that loose, the PS4 will be really cheap, so it will sell like crazy, which means that every publisher will want to make games for it, and because of that Sony will earn a lot of money from licensing fees. :)



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