Sony sells M3 shares in restructuring effort

As part of a restructuring effort, Sony has sold a percentage of its shares from medical marketing and research subsidiary M3.

The firm still remains the majority shareholder after shedding six per cent of its stake in M3, accounting for 95,000 shares. The sale is expected to net Sony $1.23bn, according to GI.biz.

Sony followed up the move by forecasting an operating profit by the end of its fiscal year next month – even prior to the company’s PS4 reveal earlier today.

All in all the results should be better than last year, when the company forecasted a $6.4bn loss.