Feeds

Sony flogs off more assets in scramble for full-year profit

£800m sale of medical market biz stake to staunch cash bleed

High performance access to file storage

Sony is selling off nearly 10,000 shares in medical market research firm M3 as part of its business overhaul.

The Japanese firm, suffering from competition on a number of fronts and feeling the effects of the sad economical state of Europe, has been selling off bits and pieces and rejigging others to streamline its business and attempt a return to lucrative profitability.

The sale of a portion of its shares in subsidiary M3 will mean that the company is no longer consolidated by Sony, although Sony will still be the major shareholder. Sony said it expects to get an extra ¥115bn (£800m) in its operating income for the current fiscal year from the sale.

That ¥115bn will be the majority of the ¥130bn operating income the company has forecast for the full year up to March 2013, giving Sony a net income of ¥20bn.

The company is expected to launch its PlayStation 4 later today in direct competition with Microsoft's attempts to make the Xbox the ubiquitous living room entertainment system. ®

High performance access to file storage

More from The Register

next story
Audio fans, prepare yourself for the Second Coming ... of Blu-ray
High Fidelity Pure Audio – is this what your ears have been waiting for?
Dropbox defends fantastically badly timed Condoleezza Rice appointment
'Nothing is going to change with Dr. Rice's appointment,' file sharer promises
Nokia offers 'voluntary retirement' to 6,000+ Indian employees
India's 'predictability and stability' cited as mobe-maker's tax payment deadline nears
Apple DOMINATES the Valley, rakes in more profit than Google, HP, Intel, Cisco COMBINED
Cook & Co. also pay more taxes than those four worthies PLUS eBay and Oracle
It may be ILLEGAL to run Heartbleed health checks – IT lawyer
Do the right thing, earn up to 10 years in clink
France bans managers from contacting workers outside business hours
«Email? Mais non ... il est plus tard que six heures du soir!»
Adrian Mole author Sue Townsend dies at 68
RIP Blighty's best-selling author of the 1980s
Zucker punched: Google gobbles Facebook-wooed Titan Aerospace
Up, up and away in my beautiful balloon flying broadband-bot
Analysts: Bright future for smartphones, tablets, wearables
There's plenty of good money to be made if you stay out of the PC market
prev story

Whitepapers

Mainstay ROI - Does application security pay?
In this whitepaper learn how you and your enterprise might benefit from better software security.
Five 3D headsets to be won!
We were so impressed by the Durovis Dive headset we’ve asked the company to give some away to Reg readers.
3 Big data security analytics techniques
Applying these Big Data security analytics techniques can help you make your business safer by detecting attacks early, before significant damage is done.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Mobile application security study
Download this report to see the alarming realities regarding the sheer number of applications vulnerable to attack, as well as the most common and easily addressable vulnerability errors.