| |


 Forgot password?
View: 295|Reply: 3

[News] Sony is selling its New York HQ, then re-renting it

 Close [Copy link]
Post time: 20-1-13 17:16:24
| Show all posts |Read mode
Sony is selling its New York HQ, then re-renting it

Sony announced it's selling its headquarters building, located on 550 Madison Avenue, New York. The sale price is $1.1 billion.

What's interesting is that under the conditions of the deal, which should go through some time in March, Sony's various businesses will stay in the building for another three years.

After repaying the debt related to the building and various other fees, Sony expects to net $685 million, which will be recorder as operating income. Nifty, we would say. It would come just in time for the end of the fiscal year (March 31) to boost the balance sheet Sony will have to present its investors. This would allow the company to finish up the year on the black instead of the projected $200+ million loss.

There's no word on the planned expenses for renting the building in the three years to follow.

Since a new management team took over Sony last year, the challenge for the company has been to strengthen up, to reduce expenses and get rid of losing businesses.
Post time: 21-1-13 02:05:08
| Show all posts
because of global crisis, i think
Post time: 21-1-13 23:53:42
| Show all posts
Offcourse of Company loss ..
Post time: 17-2-13 02:29:07
| Show all posts
Nokia, Samsung etc are moving towards low cost Java feature phones. While Sony who produced the best Feature phones have already taken it's hands away from that. It is these kind of decisions that do result in loss.
It is truly said;
Somebody's junk is another person's Gold!
You have to log in before you can reply Login | register

Points Rules

Dark room|Mobile|Archive|UCWeb Inc.   

25-4-14 11:59 GMT+8

Powered by Discuz! X3

Release 20130801, © 2001-2014 Comsenz Inc.

MultiLingual version, Rev. 215, © 2009-2014 codersclub.org

Quick Reply To Top Return to the list