Sony to sell subsidiary M3 shares, post $1.23 billion operating profit
TOKYO (Reuters) - Sony Corp said on Wednesday that it would sell six percent of shares in its consolidated subsidiary M3 Inc, and as a result post a 115 billion yen ($1.23 billion) operating profit for the year through March 2013.
Sony said in statement that the sale of shares in M3, a marketing company, was part of a rebalancing of its business portfolio and assets.
($1 = 93.52 Japanese yen)
(Reporting by Shinichi Saoshiro; Editing by Ron Popeski)
- Housing, jobs data weaken, but overall economic picture still upbeat
- Target cyber breach hits 40 million payment cards at holiday peak |
- Pizza outlet attacked as India, U.S. fail to cool diplomat row |
- New York Mayor-elect's reputation for lateness parodied on Twitter
- Putin critic Khodorkovsky free after pardon, heads for Germany |