Sony Corp said on Wednesday that it would sell six percent of shares in its consolidated subsidiary M3 Inc, and as a result post a 115 billion yen ($1.23 billion) operating profit for the year through March 2013.

Sony said in statement that the sale of shares in M3, a marketing company, was part of a rebalancing of its business portfolio and assets.

($1 = 93.52 Japanese yen)

(Reporting by Shinichi Saoshiro; Editing by Ron Popeski)