TOKYO -- Sony plans to raise some 100 billion yen ($982 million) by issuing bonds to institutional investors, perhaps in September.
The Japanese corporate icon wants to be ready to pounce on future acquisitions and make other growth investments.
Terms and conditions of the issuance, including coupon payments, are yet to be finalized. But Sony will likely issue several straight bonds that mature in five to 10 years. Depending on demand, the total issuance could be raised to 150 billion yen or so.
It will be the first time since June 2013 for Sony to issue straight bonds. Three years ago, it raised 150 billion yen from small investors.
Sony projects its operating profit for the year ending March to reach 300 billion yen, up 2%. For the following year, it expects its fattest profit in two decades -- 500 billion yen or higher.
With PlayStation 4, a home gaming console, selling well, Sony wants to venture into new businesses, such as artificial-intelligence-based robotics.
Under the negative interest rate policy introduced by the Bank of Japan earlier this year, Japanese businesses are becoming keen to issue bonds. SoftBank is considering 1 trillion yen in hybrid bonds, while Panasonic has announced its intention to raise 400 billion yen through a straight bond issuance.