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Sony to Sell Chemical Business to Development Bank of Japan for $730 Million

8:55 AM MDT | June 28, 2012 | Deepti Ramesh

Sony Corp. (Tokyo) and the Development Bank of Japan (DBJ; Tokyo) have entered into definitive agreements for the previously announced sale of Sony’s chemical products businesses to DBJ, for about ¥58 billion ($730 million). Sony’s chemical products businesses are mainly operated by its wholly owned subsidiary Sony Chemical & Information Device Corp. (SCID; Tokyo), which was established in 1962. The sale would cover domestic and overseas operations of Sony, including operations of SCID, relating to the manufacture and sale of chemical...

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