Dubai International Capital buys stake in Japan's Sony Corp

Mumbai: Dubai International Capital, owned by Dubai ruler Sheikh Mohammed bin Rashid Al Maktoum, has made a "substantial investment" in Japanese electronics and entertainment firm Sony Corporation, the Dubai firm announced without giving the exact amount of investment.

Dubai International Capital had said in July that it might buy stakes of up to $1.5 billion in one or two publicly listed companies in Japan.

A $1.5 billion investment would be equivalent to 3 per cent stake in Sony, which has a market value of 5.52 trillion yen ($50.9 billion).

Dubai International Capital's announcement follows a report by the Nikkei business daily about possible Chinese government investment in Tokyo market.

China's new sovereign wealth fund, which manages about $200 billion of foreign reserves, was likely to invest in Japanese stocks gave a brief boost to the yen and lifted Tokyo stocks, the report said. 

The investment could well be within five per cent as anyone buying more than five per cent of a listed company in Japan is required to report the stake to regulators within five business days.