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Thursday, September 12, 2013
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Sony Sells M3 Shares to Deutsche Securities
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Sony today announced that it has entered into a contract to sell 155,000 shares of its 791,908 shares of M3, an affiliated company of Sony, to Deutsche Securities.
The sale price is JPY37.8 billion (US$380.64 million) and Sony will receive net cash proceeds from the sale of the same amount on September 17, 2013. As a result of the sale, Sony expects to record a gain in operating income of approximately JPY13 billion during the second quarter of the fiscal year ending March 31, 2014.
Following the sale, Sony will still remain a major shareholder of M3 and will continue to pursue opportunities to collaborate with M3 in various business areas, including medical. |
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