Sony will diversify

The Japanese group Sony will enter the housing market with an initial investment of $2.4 million, diversifying businesses and seeking to capitalize on the information and experience gained as a manufacturer in consumer electronics.

Sony will establish a division of property which will commence in August and will include brokerage, property management and consulting, the company said in a statement, cited by Bloomberg.

"Sony has acquired personal information from the Vaio and PlayStation divisions, so it could use the database with consumers in real estate. The new business seems more an optimization of how the assets are used only a strategic move," commented for Bloomberg a Deutsche Bank analyst from Tokyo.