Sony is supposedly a shuffling financial wreck, but it still stumped up the $380 million required to acquire Gaikai. That doesn’t quite add up. Indeed, it turns out that the company is not quite as broke as it seems, having recently offloaded a slew of convertible bonds to the tune of $1.9 billion. A third of that cash will be reinvested in Japanese optics company Olympus Corp, while some will be used to finance its high-profile purchase of – you guessed it – Gaikai. The organisation is looking to use the rest of the money to repay debts and increase its financial focus on CMOS image sensors.

The Japanese giant’s most recent financial report recorded a net loss of $198 million, which represented a 42.6 per cent decrease year-on-year. In short, things certainly aren’t looking rosy for the company – but at least it's heading in the right direction.

[via sony.net, reuters.com, joystiq.com]