AfterDawn: News

Sony to sell its ex-headquarters after another rough fiscal year

Sony has decided to sell its former headquarters and the buildings surrounding it in Tokyo in its ongoing efforts to cut expenses and losses.

The sale would be the third in two years of iconic Sony buildings. The company sold its U.S. headquarters in NYC for $1.1 billion and another Tokyo building for $1.1 billion in the last year.



With an asking price of $146.5 million, the buildings house Sony's medical business and other back office operations. It was the company's headquarters from 1990 until 2007.

The area in Shinagawa Ward where the buildings are located used to be called "Sony Village" because the company owned over 10 buildings there. Sony founders Akio Morita and Masaru Ibuka moved to the area in 1947.

Sony recently forecasted a loss of $1.1 billion for the fiscal year thanks to devastating PC and TV divisions. The company has been selling assets and laying off employees to help shave costs, and will also spin-off its struggling divisions to focus on consumer electronics like the PlayStation and Xperia smartphones.

Written by: Andre Yoskowitz @ 28 Feb 2014 20:20

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• 7 comments

• ivymike

  Karma's a real bitch, ain't it, Sony.
  

  28.2.2014 20:23 #1

• brockie

  I think next year will be a lot better for Sony Kaz is making hard but the right decisions. the way they handled the PS4 was brilliant great price great console more of that Sony.

  28.2.2014 21:24 #2

• lamain

  If Sony's new Xperia smartphones has a Google play edition I will most likely pick it as my next phone.

  28.2.2014 22:48 #3

• kutulu1

  Love the PS4, they just need to get off their asses and get some quality games on it asap. No point in having a great console if you don't have the software to run it.

  7.3.2014 21:40 #4

• xboxdvl2

  sonys reputation hit the floor,quality went down on there products & lost sales.
  I think if sony made changes (cutbacks) and improved quality of there products (instead of rushing them out) they would gain a better reputation and within years could be successful again.
  

  custom built gaming pc from early 2010,ps2 with 15 games all original,ps3 500gbs with 5 games all original,yamaha amp and 5.1channel surround sound speakers,46inch sony lcd smart tv.

  8.3.2014 04:17 #5

• Jemborg

  They were a powerhouse in the TV industry scene not just domestic back in the day. For instance, it's often joked that Betamax was finished early... but not in the industry, it was all Betamax there. VHS M-loading cannot handle the stress at the 6x speed they wanted to run the tape at. Plus it was crappier anyway.
  

  Its a lot easier being righteous than right.
  
  
  

  8.3.2014 08:39 #6

• Tarsellis

  I'm still on a permanent boycott of $ony from their root kit fiasco and attitude on media, copyright, and IP. Less $ony and less of this attitude is good for the world.

  8.3.2014 17:00 #7