Sony To Move Into Real Estate With New Division, Sony Real Estate Corp.

Sony To Move Into Real Estate With New Division, Sony Real Estate Corp. (Ping! Zine Web Tech Magazine) – Sony Corp. is venturing out of electronics and into a new field that the company hopes will bring in more revenue, real estate.

The new unit, Sony Real Estate Corp, will consist of a property management unit, consulting business, and a brokerage, the Wall Street Journal reports.

Sony’s new division is one of many new business ideas being explored by a project headed by Chief Executive Kazuo Hirai.

The project allows employees to pitch new business ideas every three months by “internal auditions or contests” in which senior VP Hiroki Totoki will decide which ideas to further pursue.

Sony Real Estate will be based in the Ginza neighborhood in Tokyo and will begin operations in August with plans to go public in the next three years.

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