Sony is trying to sell a Tokyo building in an effort to raise some cash for its ailing operation.
The Sony City Osaki building in Tokyo is on sale for between $1 billion and $1.5 billion, the Wall Street Journal is reporting today, citing sources with knowledge of the plans. The move follows a corporate decree passed down by CEO Kazuo Hirai to offload any nonessential assets as Sony attempts to regain its financial footing.
The Sony City Osaki building has 25 stories and 5,000 company employees working there. According to the Journal's sources, those employees will remain in the building after the potential sale, since the owner would likely lease the space back to Sony.