Andre Yoskowitz
28 Feb 2014 20:20
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.