Sony To Sell Former Headquarters

Fri, 02/28/2014 - 8:58am

TOKYO (Kyodo) -- Japanese electronics maker Sony Corp. is planning to sell some of its properties in Tokyo including its former headquarters building as part of its restructuring efforts.

Sony owns more than 10 buildings in the district of Gotenyama in Tokyo's Shinagawa Ward in an area once known as "Sony village," but a number of them will be sold off. Buildings to be kept include one housing Sony's museum.

The company was founded in 1946 as Tokyo Tsushin Kogyo K.K. in Nihombashi in Chuo Ward in Tokyo and moved its head office to Gotenyama the following year where Sony developed radios, televisions and the Walkman portable music player.

The NS building in Gotenyama, built in 1990, was used as Sony's headquarters building until 2006. Employees there will be transferred to its current headquarters near Shinagawa Station among other places.

Last year, Sony sold assets including its U.S. headquarters in central New York. It also announced earlier this month the sale of its Vaio computer business to a Tokyo-based investment fund and a spinoff of its television business into a wholly owned unit from July.

The company expects a group net loss of 110 billion yen for the year through March amid flagging performances by its electronics businesses.


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