Sony agrees to $68 million deal to sell more of its company buildings in Tokyo

Sony agreed a deal to sell two company buildings in Tokyo for $156 million earlier this month, and now the Japanese firm is cashing in again after announcing the 7 billion yen ($68 million) sale of more real estate in the city: Building 5 and its premises at 22-6, Higashigotanda 2 cho-me, Shinagawa-ku.

Real estate firm Sumitomo Realty & Development is the buyer in both cases — Sony expects to pocket 5 billion yen ($49 million) after deductions from the sale, which it anticipates will close next month.

The Japanese firm announced a major reorganization in February, selling its Vaio laptop business, spinning out its TV division and laying off 5,000 employees, but its cost cutting initiatives are continuing.

➤ Sony Press Release

Image via Jamie McCall / Flickr