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Sony eyes partial spin-off of Sony Financial Group
2023.05.17 22:07
© Reuters. FILE PHOTO: The Sony logo is displayed outside the company’s headquarters in Tokyo, Japan February 16, 2023. REUTERS/Issei Kato
TOKYO (Reuters) -Sony Group Corp on Thursday said it is examining a partial spin off of its financial business within the next two to three years, as the conglomerate focuses on its entertainment business.
Sony (NYSE:) said it is looking at listing Sony Financial Group, whose operations include life insurance and banking, and retaining a stake of slightly less than 20%.
The potential spin-off comes as Sony doubles down on its entertainment business centred on games, music and movies, as well as its image sensor business.
Sony shares were up 6% in morning trading in Tokyo.
