VG247

GI’s reporting that Sony will sell its share in Japanese online gaming firm DeNA for around $440 million.

Sony will sell its shares in DeNA, a Japanese online gaming firm, for around $440 million.

The company has released a statement confirming the deal, saying it will sell 17.72 million shares of DeNA stock to Nomura securities.

The move will bring much-needed cash into the struggling corporation, adding around ¥40.9 billion ($438 million/£291 million) to Q4 earnings.

Selling the DeNA shares is the third money-boosting bid by Sony recently, with sales of offices in New York and Osaka raising $1.1 billion and $1.2 billion respectively.

Didn't they just buy this less than two months ago? I have no idea what Sony was thinking. It looks like they are losing a bit of money on this venture based on the share price at buying and selling.

I wonder what else Sony is gonna sell to keep afloat.

Good move, more liquidity is needed at Sony's!

It's not a matter of keeping afloat at this point because they held the stock for less than two months. Their financial situation wouldn't have changed much since then.

The most shocking news from this article is finding out that yen is now at 93 per US dollar.

I agree with you but all the journalists will frame this as desperation.

Perhaps they found some long-term problems with the company once they looked at it?

Not sure if this is good or not as far as those shares go, liquidating is Sony's answer to credit issues so that is good in part. I'm still going to rule this as good since online social gaming can drop off the face of the Earth in no time flat. Once decline starts for those things it is like a train wreck, at least from recent memory. That's a pretty good chunk of change too.

If Sony is hurting this bad for cash right now, what if the PS4 doesn't perform like they hope, much like the Vita did? Sega bet everything on the amazing Dreamcast and did everything right with it. But it didn't save the company and look at Sega now. If Sony uses all it's assets to launch the PS4 and the competition pulls the rug from under them I'm afraid Sony might not be able to stand back up.

If Sony really wanted to get into mobile games, they would look into GREE rather than DENA.