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Sony Hunkers Down Before PS4 Arrives
Posted: 22-Jan-2013 [Source: Motley Fool]

[Sony is selling off real estate assets to pump up declining cash reserves, according to this report.]

Peter Pham -- "The struggling Japanese consumer electronic equipment manufacturer Sony (NYSE: SNE) has reportedly decided to sell one of its main buildings in Tokyo to generate $1.14 billion to pump up its falling cash reserves. Under the leadership of Kazuo Hirai, the business is shedding off its non-core assets while trying to refocus on its core consumer products such as mobile phones, tablets and gaming consoles. The news, which has not been officially confirmed by Sony, was received well by investors as its shares jumped by 2.9% in a single day on Jan. 10."

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