Reuters reports the company plans to do this by selling six percent of its shares in M3 Inc, a marketing company, which will result in a ¥115 billion ($1.23 billion) operating profit.
Sony has also shifted other assets -- rather than product -- to place itself in this position. The company announced in January it was selling its New York City headquarters for $1.1 billion, with the proceeds from that, estimated at $770 million, to be recognized in this fiscal year.
Speaking of New York City, Sony will hold its PlayStation event this evening at 6PM. Join us.
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