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Tokyo: As part of its restructuring drive, Sony plans to sell its former HQ and surrounding buildings in Shinagawa, Tokyo according to local press reports. The sale is expected to raise $150 million.

Completed in 1990, the former HQ, called the NS Building, is part of what was once the “Sony Village” — a complex of Sony-owned buildings in the area. The nearly 1,000 employees working in the building in medical equipment and other businesses will be transferred to Sony’s current Shinagawa HQ by June.

The sale follows on Sony’s unloading of other assets, including its former US HQ building in Manhattan, is an effort to stem the tide of red ink.

The company announced in February that it projects a loss of $1.1 billion for the fiscal year ending March 31 of this year.

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