Sony to raise up to US$3.6bil to boost sensor output

Tokyo: Sony Corp said it plans to raise up to 440 billion yen (US$3.6bil) by issuing new shares and convertible bonds to invest in its fast-growing image sensors business.

Sony said it expects to raise 321 billion yen from a public offering and 119 billion from issuing convertible bonds.

The company said in February that it would spend 105 billion yen to boost production capacity for sensors, increasing its focus on a business that is becoming one of its strongest as its TV and mobile operations struggle.

Sony shares were down over 7%. - Reuters