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Companies

Sony and Olympus cut financial ties under activist pressure

Next step for joint medical equipment business up in the air

Kazuo Hirai and Hiroyuki Sasa, then-presidents of Sony and Olympus, attend a news conference in Tokyo in October 2012. The companies have unwound their capital partnership amid activist pressure.   © Reuters

TOKYO -- Sony has unloaded its remaining stake in business partner Olympus after a push by activist shareholder Daniel Loeb, raising questions over the future of their joint health care equipment business.

Sony sold its holdings for about 80 billion yen ($754 million), the company said Friday, as part of the stock buyback undertaken by Olympus.

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