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Thursday, January 24, 2013

Japan wants Nissan-NEC venture to purchase Sony battery ops-media, (OTHER OTC: NSANY)

A Japanese state-backed fund wants a Nissan Motor Co Ltd and NEC Corp joint venture to purchase Sony Corp's lithium-ion battery unit to prevent rivals in China and Taiwan from getting its technology as the Tokyo TV maker looks to offload non-core businesses, the Daily Yomiuri said.The Bravia TV maker's shares rose as much as 6.9 percent in Tokyo after the report. The company declined to comment.Sony, which last year sold its chemical business to the government fund, Innovation Network Corp of Japan (INCJ), for $700 million, is trying to revive the fortunes of its consumer electronics business by focusing on cameras, gaming and mobile devices.Sony's CEO, Kazuo Hirai, speaking at the CES consumer electronics show in Las Vegas this month, said any unit not contributing to those core divisions or helping to end losses in televisions could be sold. Under the company's accounting rules, asset sales are booked as operating profit.

NISSAN MOTOR CO., LTD. is a Japan-based company primarily engaged in the manufacture and sell of automobiles. Shares of NSANY traded higher by 1.45% or $0.275/share to $19.28. In the past year, the shares have traded as low as $16.44 and as high as $21.81. On average, 180153 shares of NSANY exchange hands on a given day and today's volume is recorded at 17195.