February 6, 2014, Sony has announced that it entered into a confirmation intention to transfer to Japan Industrial Partners, Inc., the PC business in the VAIO brand.
Conclude by the end of March 2014 the definitive agreement.
current basic understanding (from Press Release)
The new company will conduct operations for its VAIO-branded PC business as an independent business entity, including planning, design, development, manufacturing and sales.
Following reevaluation of the product lineup, the new company will initially concentrate on sales of consumer and corporate PCs in the Japanese market and seek to optimize its sales channels and scale of operations, while evaluating possible further geographic expansion. Through these measures, the new company will aim to quickly secure stable profit.
The new company will be based at the Nagano Technology Site (Azumino City, Nagano Prefecture), the hub of Sony’s current PC operations. At the start of operations, the new company is expected to hire approximately 250 to 300 Sony employees currently engaged in PC-related operations, such as planning, design, development, manufacturing and sales at Sony and Sony Group companies in Japan.
The new company will be established and operated with capital investment from and management support of JIP. Sony will initially invest 5% of the new company’s capital to support its launch and facilitate a smooth business transition.
The parties will continue to discuss the consideration for the contemplated Sale, which will depend on the full scope of assets to be sold as finally determined in the definitive agreement.
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