Sony Sells $437 Million DeNA Shares to Nomura
In a move to strengthen the company's capital structure, Sony has struck a deal to sell 17.7 million shares of DeNA, a social games company, to Nomura Securities . Sony expects to realize gains of 40.9 billion yen ($437.3 million). The official selling price of the shares will be disclosed tomorrow evening, March 5. Once the sale closes on March 7, the cash will count as as income during the fourth quarter for the current fiscal year ending in March 31, 2013.
As noted in a statement on Feb. 7, Sony has undergone an investigation to transform its business portfolio and reorgainze its assets to strengthen its corporate structure. Sony made this deal under these stated goals.
The article Sony Sells $437 Million DeNA Shares to Nomura originally appeared on Fool.com.Fool contributor Kevin Chen has no position in any stocks mentioned, and neither does The Motley Fool. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.