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Publish Date : 11-Jan-2013

Sony Corp has put a one of its main buildings in central Tokyo up for sale in a deal that could raise as much as 100 billion yen (US$1.14 billion) as the company seeks to sell non-core assets to generate cash to improve its balance sheet, people with direct knowledge of the deal said.

Sony is trying to sell the 25-storey Sony City Osaki building that houses 5,0000 employees, most of whom are involved in making television sets and audio equipment.

The Sony employees will remain in the current location as the company will lease back the space from the future owner, one of the people said.

Sony is also trying to sell its US headquarters, which is expected to fetch between US$800 to US$1,000 per square foot as part of the effort by CEO Kazuo Hirai to turn around its businesses.

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