On Air Now

Listen

Listen Live Now » 95.5 FM Wausau, WI

Weather

Current Conditions(Wausau,WI 54403)

More Weather »
40° Feels Like: 36°
Wind: ESE 6 mph Past 24 hrs - Precip: 0”
Current Radar for Zip

Today

Sunny 61°

Tonight

Partly Cloudy 42°

Tomorrow

PM Rain 65°

Alerts

Sony to sell subsidiary M3 shares, post $1.23 billion operating profit

The logos of Sony Corp. are seen at an electronic store in Tokyo February 6, 2013. REUTERS/Shohei Miyano
The logos of Sony Corp. are seen at an electronic store in Tokyo February 6, 2013. REUTERS/Shohei Miyano

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)

Comments