Sony Corp plans to raise nearly $4 billion via new shares and bonds to expand and develop their sensor business. Nowadays almost all manufacturers of Digital cameras and Mobile Devices use Sony sensors on some of their products. And the market is still exploding!! Now Sony raises nearly $4 billion to ramp up sensors business to anchor turnaround. Let’s wait and see what innovation Sony will make.
TOKYO Japan’s Sony Corp plans to raise nearly $4 billion via new shares and bonds to plough into image sensors as it reinvents itself as a niche component maker, pulling back from consumer goods like TVs that dragged it into losses.
In Sony’s first new share issue in 26 years, the firm said on Tuesday it expects to raise 321 billion yen ($2.62 billion) from a public stock offering after a rally that has seen its market value double in a year. It will raise a further 119 billion yen from a convertible bond issue to fund a boost in sensor output capacity at its advanced plants in Japan.
The image sensors, a key hi-tech component in digital cameras and smartphones, have emerged as one of Sony’s strongest lines alongside its PlayStation videogames unit, helping the company recover from a long slide in TV and smartphone sales.
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