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

NintendoPie on 28 February 2013

Why do I feel like I already knew this?

Maybe it was rumored awhile back...



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NintendoPie on 28 February 2013
kowenicki said:
NintendoPie said:
Why do I feel like I already knew this?

Maybe it was rumored awhile back...


been up for sale for a few months.

Ah, that's why. 

Good for Nippon Building Fund, then.



Cthulhu on 28 February 2013

this should be in the real estate forum



happydolphin on 28 February 2013
kowenicki said:

You reckon?  I'd say they weren't resally in a very strong bargaining position.  They have signed up for 5 years, there is no way aninvestor would sign up to get poor returns on their investment for 5 years.   I would suspect it is at normal market rates with perhaps a discount as an already sitting tenant.

Yeah, that's what I meant. I'm not saying they won't make money, but Sony will get a certain discount due to being the current owner and first tenant.



Mmmfishtacos on 28 February 2013

I think it's a good move, so they finish building it last year, flipped it. Got out from underneath all the cost and taxes. How much taxes do you think they pay on a building worth 1.2 billion? That a lot of cash. Looks like Sony is trying to get back on the right track. Not like thay don't have billions worth of other assets. But keep on hating.



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Proclus on 28 February 2013

Will be good for their temporary financials, they'll have to capatilize on it with profit making products to make it worthwhile though.



sidious164 on 28 February 2013

Sony needs to sell buildings to make money? jeez.



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happydolphin on 28 February 2013
kowenicki said:
Mmmfishtacos said:
I think it's a good move, so they finish building it last year, flipped it. Got out from underneath all the cost and taxes. How much taxes do you think they pay on a building worth 1.2 billion? That a lot of cash. Looks like Sony is trying to get back on the right track. Not like thay don't have billions worth of other assets. But keep on hating.

What is wrong with you?  Nobody here is hating (that is such a weak, knee jerk and oh so typical response btw).  This is a very important matter that deserves discussion.  If you arent equipped emotionally to handle that kind of dsicussion then just leave the thread.

I have to admit I haven't seen any hating. Let's keep it neutral and objective. We like it that way :)



sales2099 on 28 February 2013

Tsk Tsk. Owning is always better then renting. I would rather may a mortgage then throw my money away with paying rent on a apartment every month.

Sony is now a renter. Not only will the rent costs mount up month after month, year after year, but can anybody take them seriously as much? I know I can't if they can't even own their own buildings they operate in.

This is artificial means of showing a profit. This isn't change. Its a band-aid fix.



Xbox: Best hardware, Game Pass best value, best BC, more 1st party genres and multiplayer titles. 

 

VGhippy 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.


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.