April 24 Sony Corp will branch out into
the real-estate business in August and plans to take the unit
public in three years, the Nikkei reported without citing a
Sony recently set up a real-estate unit in Tokyo, with the
aim of generating annual sales of 50 billion yen ($488.4
million) in five years, the newspaper said.
The real-estate foray marks the first initiative of a new
project team at Sony that specializes in creating new businesses
and aims at developing more than 10 new businesses over the next
three years, the business daily reported.
($1 = 102.3850 Japanese Yen)
(Reporting by Sruthi Ramakrishnan in Bangalore, Editing by