Sony has sold its Osaki office building for $1.2 billion

By Stephany Nunneley

Sony has sold its Sony City Osaki office building in Tokyo for $1.2 billion (¥111 billion). As a result of the sale, Sony expects to realize a gain on the sale of approximately ¥41 billion ($445 million) to be recorded as operating income, during Q4 of the fiscal year ending March 31. The sale is part of the firms restructuring program and asset reorganization “in an effort to strengthen its corporate structure.” The firm sold its US office building last month for $1.1 billion. Thanks: Joystiq, Seeking Alpha.