Sony Unloads Stake in DeNa for $438 Million

March 4, 2013 -

Sony has decided to unload its holdings in mobile game developer and publisher DeNa, according to this Reuters report. Sony has reportedly sold all of its shares in the company to Japanese-based investment firm Nomura Securities for $438 million. The income from this transaction will be recorded and reported in Sony's fourth quarter financials.

Sony said back in February that it would see an operating profit in its fiscal year that ends in March, much to the surprise of the investment community. Clearly a deal was already in motion to unload its holdings in the company and move on. It also didn't hurt that Sony divested itself of two valuable properties earlier this year: its Sony City Osaki and its New York HQ buildings. Both those buildings brought in huge amounts of cash for the company.

Source: Joystiq


 
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