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Tokyo, Japan - September 28, 2012 - Sony Corporation (“Sony”) today announced that it has completed the sale of certain chemical products businesses operated by Sony Group, including Sony Chemical & Information Device Corporation (“SCID”), a wholly-owned subsidiary of Sony, to Development Bank of Japan Inc. (“DBJ”), in accordance with the definitive agreements announced on June 28, 2012.
As the result of this transaction, the transfer of all of Sony's domestic and overseas operations of the chemical products businesses, including all shares in SCID, to DBJ has been completed, and Sony has received 57.20674 billion yen in cash.
The Cash consideration for the SCID shares may be adjusted pursuant to the definitive agreements. Sony is currently evaluating the impact of this transaction on its consolidated financial results for the fiscal year ending March 31, 2013.