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Sony expects £290m boost from DeNA sale

PlayStation 4 firm sells its 18m shares in the social games firm

Sony Corporation has agreed to sell its stake in social games giant DeNA for the price of 41 billion yen (£290m).

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Executives at the embattled electronics empire, which in May last year revealed it had made an annual loss of £3.8 billion, have promised to reverse the company's fortunes by the end of the current business year.

Sony's sale of its 17.7 million shares in DeNA (the social games firm which also owns mobile games developer Ngmoco) will provide the company with a £290 million boost during its Q4 report.

In February the company unwrapped its PlayStation 4 console for the first time. Sony said the PS4 release date is due for the end of the year, but there is speculation that Europe will not be supplied the console until early 2014.

The DeNA shares will be sold to Nomura Securities.

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