SON: Sony Corporation: Sony Corporation Announces Sale of “Sony City Osaki” Office Building and Premises

  SON: Sony Corporation: Sony Corporation Announces Sale of “Sony City Osaki”
  Office Building and Premises

UK Regulatory Announcement

TOKYO

February 28, 2013

Sony Corporation Announces Sale of “Sony City Osaki” Office Building and
Premises

Sony Corporation (“Sony”) today announced that it has sold its Sony City Osaki
office building and premises to Nippon Building Fund Inc. and a Japanese
institutional investor. The sale was structured such that Sony placed the
office building and premises in a trust and then sold the trust beneficiary
rights. Sony and other Sony Group businesses will remain in the building for a
period of five years after the sale under a lease agreement entered into
separately.

The sale price is 111.1 billion yen. After deducting expenses related to
transaction costs, Sony received net cash proceeds today of 110 billion yen.
As a result of the sale, Sony expects to realize a gain on the sale of
approximately 41 billion yen, to be recorded as operating income, in the
fourth quarter of the fiscal year ending March 31, 2013.

As stated on February 7, 2013 in the announcement of Sony’s forecast for
consolidated financial results for the fiscal year ending March 31, 2013, Sony
has identified certain assets for possible sale as part of an initiative to
transform its business portfolio and reorganize its assets. This sale was
conducted as a part of that initiative. While this sale was aniticipated and
the potential gain on the sale was taken into account at the time of the
forecast, Sony is currently reevaluating the aggregate impact of this sale and
other factors on the forecast.

1. Reasons for this sale

Sony is transforming its business portfolio and reorganizing its assets in an
effort to strengthen its corporate structure. This sale was conducted as a
part of this reorganization.

2. Summary of assets to be sold

Assets / Location    Selling  Book Value      Expected Gain on  Current
                      Price                      Sale               Status
Sony City Osaki       111.1     Approximately    Approximately      In use as
                     billion                                    an office
(Shinagawa-ku,        yen       44 billion yen   41 billion yen     building
Tokyo, Japan)                                                       of Sony

3. Summary of Buyers

(1) Buyers

Nippon Building Fund Inc. and one Japanese institutional investor*

(The trust beneficiary rights will be co-owned by Nippon Building Fund Inc.
and the Japanese institutional investor, 60% and 40% respectively.)

*The name of the Japanese institutional investor is not being disclosed as per
its request. There is no capital, personnel or transaction relationship to be
disclosed herein between (1) such Japanese institutional investor and Sony or
(2) affiliates of such Japanese institutional investor and affiliates of Sony.
In addition, neither such Japanese institutional investor nor its affiliates
are deemed to be a related party of Sony.

(2) Summary of Nippon Building Fund Inc.

(1)   Trade name           Nippon Building Fund Inc.
(2)   Address of head      9-1, Marunouchi 1-chome, Chiyoda-ku, Tokyo,
       office                Japan
(3)   Name and title of    Tsutomu Nishiwaka, Executive Director
       representative
                             Asset management pursuant to the Act on
(4)   Business             Investment Trusts and Investment Corporations of
                             Japan
(5)   Paid in capital      504,368 million yen (as of February 14, 2013)
(6)   Date of              March 16, 2001
       establishment
(7)   Net assets           446,005 million yen (as of December 31, 2012)
(8)   Total assets         899,123 million yen (as of December 31, 2012)
      Major investors and  Trade name               Investment Ratio
       their respective      Japan Trustee Services   16.9%
       investment ratio      Bank, Ltd.
(9)                          Trust & Custody Services 7.7%
       (As of December 31,   Bank, Ltd.
      2012)                The Nomura Trust and     5.6%
                             Banking Co., Ltd.
                                                Sony is not an investor in
                                                the Buyer. There is no
                                                capital relationship between
                                                the Buyer and Sony required
                             Capital           to be disclosed to herein.
                             relationship       There is no capital
                                                relationship between
                                                affiliates of the Buyer and
                                                Sony required to be disclosed
                                                to herein.
                                                There is no personnel
                                                relationship between the
                                                Buyer and Sony required to be
       Relationship with     Personnel         disclosed to herein. There is
(10)   Sony Corporation      relationship       no personnel relationship
                                                between affiliates of the
                                                Buyer and Sony required to be
                                                disclosed to herein.
                                                There is no transaction
                                                relationship between the
                                                Buyer and Sony required to be
                             Transaction       disclosed to herein. There is
                             relationship       no transaction relationship
                                                between affiliates of the
                                                Buyer and Sony required to be
                                                disclosed to herein.
                             Status as a        Neither the Buyer nor its
                           related party     affiliates are deemed to be a
                                                related party of Sony.

4. Schedule

(1)  Approval of the contract of sale (by the CEO of      February 28, 2013
      Sony)
(2)  Execution of the contract of sale                    February 28, 2013
(3)  Closing date of the sale                             February 28, 2013

5. Outlook

The impact of the sale on Sony’s forecast for consolidated financial results
for the fiscal year ending March 31, 2013 is stated above.

(For reference) Sony’s consolidate financial forecast for the fiscal year
ending March 31, 2013, which was announced on February 7, 2013, and its
consolidated financial results for the fiscal year ended March 31, 2012

                                                             (Yen in billions)

                                                      Income    Net income
                             Sales and    Operating   (loss)    (loss)
                                       income     before   attributable
                             operating                income    to Sony
                             revenue      (loss)      taxes     Corporation’s
                                                                stockholders
Consolidated financial
forecast for the            6,600       130        150      20
fiscal year ending March
31, 2013
Consolidated financial
results for the             6,493.2     (67.3)     (83.2)   (456.7)
fiscal year ended March
31, 2012

Contact:

Sony Corporation
 
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