"Japan’s Sony Corp. continues its financial restructuring plans and selling of unnecessary assets by announcing the sale of all of its shares, equal to a 13% stake, in the mobile game developer DeNA. Nomura Securities has already been named as the buyer, and will paying an estimated 40.9 billion yen (approx. $438 million).
As the 2012 fiscal year comes to a close at the end of this month, Sony will be recording the share sale as operating income in the fourth quarter, helping to boost the bottom line with the $438 million gain. A statement about the sale read “Sony is transforming its business portfolio and reorganizing its assets in an effort to strengthen its corporate structure. This sale is made as a part of that initiative.” The exact price of the 17,722,500 shares is to be revealed tomorrow, March 5th, while Sony expects the deal will be completed by March 7th."
Is this even wise move? Seems like DeNa has only one way to go and that's up.