On Air Now

Upcoming Shows

Program Schedule »

Tune in to Listen

1440 AM Green Bay, WI

Weather

Current Conditions(Green Bay,WI 54303)

More Weather »
60° Feels Like: 60°
Wind: WSW 6 mph Past 24 hrs - Precip: 0”
Current Radar for Zip

Tonight

Clear 56°

Tomorrow

Isolated Thunderstorms 77°

Wed Night

Clear 56°

Alerts

  • 0 Severe Weather Alerts
  • 0 Cancellations

Sony to book $49 million profit from Tokyo property sale

Sony Corp's logo is seen at the headquarters in Tokyo February 6, 2014. REUTERS/Toru Hanai
Sony Corp's logo is seen at the headquarters in Tokyo February 6, 2014. REUTERS/Toru Hanai

TOKYO (Reuters) - Sony Corp said on Thursday that it would book about a 5 billion yen ($48.9 million) profit in the next fiscal quarter on the sale of Tokyo property, its second disposal announced this month as it sheds assets under a turnaround plan.

The gain will be posted as operating profit for the first quarter of the business year that begins on April 1, Sony said.

Sony has been selling off assets and restructuring loss-making divisions, including its TV operations, as it tries to restore its struggling consumer electronics business to profitability.

The consumer electronics company announced on March 7 the disposal of a Tokyo property for 16.1 billion yen and that it would book a 10 billion yen operating profit from the sales in the next fiscal quarter.

($1 = 102.31 Japanese yen)

(Reporting by Dominic Lau; Editing by Matt Driskill)

Comments