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This article was published on March 27, 2014

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

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

Jon Russell was Asia Editor for The Next Web from 2011 to 2014. Originally from the UK, he lives in Bangkok, Thailand. You can find him on T Jon Russell was Asia Editor for The Next Web from 2011 to 2014. Originally from the UK, he lives in Bangkok, Thailand. You can find him on Twitter, Angel List, LinkedIn.

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