Feeds

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

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

Top 5 reasons to deploy VMware with Tegile

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. ®

Beginner's guide to SSL certificates

More from The Register

next story
Phones 4u slips into administration after EE cuts ties with Brit mobe retailer
More than 5,500 jobs could be axed if rescue mission fails
Driving with an Apple Watch could land you with a £100 FINE
Bad news for tech-addicted fanbois behind the wheel
Phones 4u website DIES as wounded mobe retailer struggles to stay above water
Founder blames 'ruthless network partners' for implosion
Radio hams can encrypt, in emergencies, says Ofcom
Consultation promises new spectrum and hints at relaxed licence conditions
Special pleading against mass surveillance won't help anyone
Protecting journalists alone won't protect their sources
Big Content Australia just blew a big hole in its credibility
AHEDA's research on average content prices did not expose methodology, so appears less than rigourous
Vodafone to buy 140 Phones 4u stores from stricken retailer
887 jobs 'preserved' in the process, says administrator PwC
prev story

Whitepapers

Secure remote control for conventional and virtual desktops
Balancing user privacy and privileged access, in accordance with compliance frameworks and legislation. Evaluating any potential remote control choice.
Intelligent flash storage arrays
Tegile Intelligent Storage Arrays with IntelliFlash helps IT boost storage utilization and effciency while delivering unmatched storage savings and performance.
WIN a very cool portable ZX Spectrum
Win a one-off portable Spectrum built by legendary hardware hacker Ben Heck
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Beginner's guide to SSL certificates
De-mystify the technology involved and give you the information you need to make the best decision when considering your online security options.