Wednesday, 1 February 2017

Sony drops after taking $1 billion writedown in movie business

The shares fell as much as 4 percent to 3,362 yen in early Tokyo trading on Tuesday, the biggest intraday decline since Nov. 9. To offset part of the loss, the company also said it would sell shares in the medical web service M3 Inc. to Goldman Sachs Group Inc.’s Japan unit, in a deal worth 52 billion yen. M3 shares slipped as much as 6.4 percent.

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