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SCE Becomes Wholly Owned Unit

Sony representatives have indicated that the company will make its video games subsidiary, Sony Computer Entertainment (SCE), a wholly owned unit on April 1 through an eq...

David Jenkins, Blogger

November 28, 2003

1 Min Read

Sony representatives have indicated that the company will make its video games subsidiary, Sony Computer Entertainment (SCE), a wholly owned unit on April 1 through an equity swap. The swap deal will involve the issuance of 1 million Sony shares to Ken Kutaragi, president of SCE, in exchange for his 0.26% stake in SCE. This will give Kutaragi assets worth about ¥3.8 billion ($34.7m). Sony owns the remaining 99.74% stake in SCE. The company has said its decision to make SCE a wholly owned subsidiary is intended to help create new markets and bolster the development of semiconductors by combining electronics and game technologies.

About the Author(s)

David Jenkins

Blogger

David Jenkins ([email protected]) is a freelance writer and journalist working in the UK. As well as being a regular news contributor to Gamasutra.com, he also writes for newsstand magazines Cube, Games TM and Edge, in addition to working for companies including BBC Worldwide, Disney, Amazon and Telewest.

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