Reuters: Technology News: Sony to sell subsidiary M3 shares, post $1.23 billion operating profit

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Sony to sell subsidiary M3 shares, post $1.23 billion operating profit Feb 20th 2013, 08:01 Tweet Share this Email Print Related News Weaker yen helps keep Sony on course for profit target Thu, Feb 7 2013 Sharp posts Q3 profit, on course to clear earnings hurdle Fri, Feb 1 2013 Analysis & Opinion Weak yen makes Japanese electronics firms giddy Japan helps Nomura put a bad year behind it The logos of Sony Corp. are seen at an electronic store in Tokyo February 6, 2013. Credit: Reuters/Shohei Miyano TOKYO | Wed Feb 20, 2013 3:01am EST 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) Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

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