Sony on Friday said it would sell properties at a prestigious Tokyo site where it had its headquarters for six decades, as the once-world beating firm struggles to repair its bottom line.
The company's 16.1 billion yen ($157 million) deal to sell the real estate to Sumitomo Realty and Development will be completed next month, it said. The properties are in the Gotenyama area near the city's Shinagawa railway station, where land prices have been on the rise recently.
In 2007, the firm sold a portion of the site, moving its headquarters to the opposite side of Shinagawa station. Sony started as Tokyo Tsushin Kogyo in 1946, the year after Japan's defeat in World War II.