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Sony sells a chunk of its Olympus stake for a fast buck
Kaz Hirai's plans to save Sony have run from integrating its many disparate business units through to just selling off everything, even the stuff that's nailed down. Now, the company is getting rid of half of its stake in Olympus in the hope of raising some extra cash for "growth investments." Sony took a $645 million stake in the one-time rival back in 2012 as an attempt to get in on Olympus' lucrative medical imaging business -- which was spun off into a joint venture. Sony may no longer be Olympus' biggest shareholder, but the pair will still collaborate on healthcare and imaging devices. Someone should tell Hirai that he'd better spend this money wisely -- he's running out of things to sell.
[Image Credit: Koji Sasahara/Associated Press]
