In February 2014, Sony announced the sale of its Vaio PC division to a new corporation owned by investment fund Japan Industrial Partners and spinning its TV division into its own corporation as to make it more nimble to turn the unit around from past losses totaling $7.8 billion over a decade.[34] Later that month, they announced that they would be closing 20 stores.[35] In April, the company announced that they would be selling 9.5 million shares in Square Enix (roughly 8.2 percent of the game company's total shares) in a deal worth approximately $48 million.[36] In May 2014 the company announced it was forming two joint ventures with Shanghai Oriental Pearl Group to manufacture and market Sony's PlayStation games consoles and associated software in China.[37]