Original URL: http://www.theregister.co.uk/2012/11/14/sony_raise_money_olympus/

Sony wants cash to get out of tellies, into mobile, CMOS and games

Hands out magic beans that grow into share-stalks in 2017

By Brid-Aine Parnell

Posted in Financial News, 14th November 2012 10:39 GMT

Sony has announced it will issue five-year convertible bonds, which will change into stock in 2017, to raise ¥150bn (£1.18bn, $1.89bn) for acquisitions and investments.

A third of the cash will go into snapping up that stake in Olympus, announced in September, and another ¥10bn (£79m, $125m) will go towards the acquisition of US cloud gaming firm Gaikai.

The Japanese firm is also planning to sink ¥60bn (£472m, $750m) into its semiconductor business to ramp up production of CMOS image sensors. The rest of the readies will go towards paying off debts due to mature in March next year.

Sony is trying to shift its focus somewhat off its loss-making TV business and into its other core businesses of gaming, digital imaging and of course mobile hardware. The firm is also looking into new possibilities for revenue like medical equipment through its shareholding in Olympus. ®