Sony Share Price is Lowest Since 1980

Sony has been forced to issue bonds for the first time since 2003 - and to the tune of 150 billion yen ( or $1.9 billion) in order to fund its business and its need to expand out of four consecutive annual losses.

The company also needs to get is domestic share price up from where it currently sits - somewhere near the levels last seen in 1980.

In fact, according to Reuters, "The shares fell to 856 yen in Tokyo trading on Nov. 12, their lowest this year and since April 18, 1980. Sony, worth more than $120 billion in 2000, is now valued at about $11 billion."

The idea is basically to borrow from the markets using convertible bonds that are bought to be repaid in November of 2017. Part of the money raised will go to repaying the sum already borrowed to buy the Gakai cloud gaming concern (reported here). That "part" equates to 10 billion yen.

The report also states that, "Chief Executive Officer Kazuo Hirai is cutting 10,000 jobs and selling assets as he focuses on mobile devices, games and digital imaging to turn around Sony, whose shares dipped to their lowest since 1980 earlier this month."

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