Sony to sell stake in DeNA

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by CBR Staff Writer| 05 March 2013

The sale would assist Sony in posting a JPY40.9bn ($438m) gain this quarter

Sony is planning to sell its complete stake in Japan-based online game provider DeNA to Nomura Securities.

Sony's move would allow it to generate a JPY40.9bn ($438m) gain during the current quarter upon the sale of 17.7 million shares in online gaming firm.

Recently, Sony sold its building in Tokyo for JPY111bn ($1.19bn) to help in meeting its chief executive officer Kazuo Hirai's target of JPY20bn ($214m) of net income during the year ending 31 March 2013.

Upon the completion of transaction, Nomura would sell 6 million DeNA shares on 07 March 2013, leaving it with 8.7% of voting rights.

In January, the company agreed to sell its 37-storey New York headquarters to Chetrit Group in a transaction worth $1.1bn.

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