Sony To Divest Chemical Unit To DBJ

Sony Corp., an electronics conglomerate, announced that Sony will sell its chemical unit, Sony Chemical & Information Device Corp. (SCID) to Development Bank of Japan Inc (DBJ)., a state-owned investment bank. SCID has about 3,000 employees and operations in Japan, US, Europe, and China. It reported sales of 111 billion yen last year. This sale is the latest move by Sony, which is focusing on realignment as a key initiative of its business portfolio.