UPDATE 1-Sony Corp halves stake in Olympus to raise funds for growth

April 1, 2015 9:02 AM

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TOKYO, April 1 (Reuters) - Japan's Sony Corp halved its stake in camera and endoscope maker Olympus Corp to raise funds for a restructuring drive under which it is boosting investment in sensors and videogames while pulling back from unprofitable segments.

Sony said it would book 46.8 billion yen ($390.4 million) in capital gains as it lowered its stake in Olympus to 5 percent from 10 percent through a sale to JPMorgan.

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