JAPAN: Sony eyes TV division HQ sell-off to boost cash reserves
Completed less than two years ago, Sony City Osaki (above) is one of the Japanese electronics company's flagship buildings, second only to its Shinagawa headquarters.
But now the state of the art building, used by the company as an exemplar of its green credentials, may be up for sale, according to Japanese press reports.
Business publication The Nikkei reports that there are plans to sell the 27-storey building, which houses 5000 employees including the company's TV division, in order to boost its cash reserves as part of its ongoing restructuring plans.
It's thought Sony will lease back space from the new owner, and that the existing operations in the building will continue. It's reported that the asking price has yet to be set, but that the sell-off may be part of a larger plan, which may also involve the sale of Sony's US headquarters, in the famous Chippendale Building (below) – formerly AT&T HQ – on Manhattan's Madison Avenue.
The Osaki building was constructed using green energy, with barges used to take away the spoil from excavation to reduce the number of trucks used.
It uses solar panels for heat and power generation, and has a 'bioskin' evaporative cooling system to reduce the energy needed for air conditioning while avoiding the heating of the surrounding area. It was the world's first building to use this 'bioskin' technology.
Sony shares rose 3.8% in Tokyo today on news of the possible sell-off.