Sony Corp. plans to raise about ¥440 billion ($3.6 billion) in a sale of shares and convertible bonds to help finance an increase in production of image sensors used in smartphones.
The sale, Sony's first since 1989, will be to the public in Japan and overseas, the company said Tuesday in a statement. Shares will make up ¥321.5 billion of the transaction and convertible bonds will account for ¥120 billion.
Image sensors, games and entertainment underpin the push to revive growth at Sony, which projects its first annual profit in three years. The company has said it's quadrupling its investment in semiconductors to ¥290 billion this year to tap surging demand for the sensors that power Apple Inc. and Samsung Electronics Co. smartphones.