Latest news with #SonyGroup
The Mainichi
5 days ago
- Business
- The Mainichi
Sony's financial arm aims to launch overseas businesses after listing
TOKYO (Kyodo) -- The top executive of the financial unit of Sony Group Corp. said Thursday that it aims to launch overseas operations after it is spun off from the parent company and listed on the Tokyo stock market later this year. Toshihide Endo, CEO of Sony Financial Group Inc., said the company will focus on "honing our business model at home "through March 2027, adding that expanding its business abroad is "on the menu as an excellent strategy for the mid-term." Sony Financial has no overseas operations at present, a spokesperson said. Endo was speaking at a meeting with the media and investors as his company prepares to list on the Tokyo Stock Exchange's top-tier Prime Market on Sept. 29. The plan will allow the parent company to better focus on its entertainment businesses -- especially games, music and movies -- that have grown to account for more than 60 percent of the conglomerate's total sales. "Financial services will remain an integral part of our group even after it is spun off, and (Sony Group) will continue to support its growth," Sony Group CEO Hiroki Totoki said at the meeting. Sony Group's stake in the wholly owned unit will fall to below 20 percent after the financial unit goes public. Sony Financial said it will list on the TSE without an initial public offering -- the first of its kind in Japan since 2000. During the press conference, the unit said it plans to buy back its own shares worth up to 100 billion yen ($688 million) from its listing through the end of March 2027. Sony Financial was previously listed on the Tokyo market, but the parent company made it a wholly owned subsidiary in 2020 to speed up decision-making.
Business Times
5 days ago
- Business
- Business Times
Sony says spinoff will give financial arm its own fundraising capabilities
[TOKYO] Sony's CEO said on Thursday (May 29) the spinoff of the group's financial services arm will give that business its own fundraising capabilities. 'It is significant that, through the spinoff, Sony (Financial Group) will secure its own fundraising capabilities while continuing to use the Sony brand and collaborate with Sony Group,' Sony CEO Hiroki Totoki said at an investor day. Sony plans to distribute just over 80 per cent of its shares to Sony Financial Group, which includes banking and insurance, to shareholders through dividends in kind. It is the first partial spinoff by a company in Japan with a direct listing – the first in Japan in more than two decades – set for Sep 29. The business plans to repurchase shares totaling some 100 billion yen through to March 2027. Its origins date back to the late 1970s, when Sony co-founder Akio Morita moved to set up a life insurance business selling to consumers. For the financial services business, investment in its IT systems and strategic investments such as M&A will be necessary in the medium-to-long term, Totoki said. In more recent years Sony sold off struggling hardware operations and focused on entertainment such as the PlayStation games business. More than 60 per cent of the conglomerate's profit came from its entertainment businesses last year. REUTERS
CNBC
6 days ago
- Business
- CNBC
Sony says financial arm spin-off will secure fundraising capabilities
Sony's CEO said on Thursday the spin-off of the financial services arm will secure that business its own fundraising capabilities. "It is significant that, through the spin-off, Sony (Financial Group) will secure its own fundraising capabilities while continuing to use the Sony brand and collaborate with Sony Group," Sony CEO Hiroki Totoki said at an investor day. Sony plans to distribute just over 80% of its shares to Sony Financial Group, which includes banking and insurance, to shareholders through dividends in kind. It is the first partial spin-off by a company in Japan with a direct listing - the first in Japan in more than two decades - set for September 29. The business plans to repurchase shares totaling some 100 billion yen through to March 2027. Its origins date back to the late 1970s, when Sony co-founder Akio Morita moved to set up a life insurance business selling to consumers. In more recent years Sony sold off struggling hardware operations and focused on entertainment such as the PlayStation games business. More than 60% of the conglomerate's profit came from its entertainment businesses last year.
Nikkei Asia
6 days ago
- Entertainment
- Nikkei Asia
Sony taps Crunchyroll to draw anime fans to its entertainment empire
TOKYO -- Anime is emerging as a key pillar for Japan's Sony Group, with its U.S.-based streaming service Crunchyroll more than tripling subscribers in four years and generating synergies with the group's video games, music and other content. "Anime has over 1 billion fans and is loved worldwide," Sony Group President and CEO Hiroki Totoki said at the Crunchyroll Anime Awards 2025 held Sunday. "It has drawn even more fans just in the past year."
Yahoo
7 days ago
- Business
- Yahoo
Why Sony Stock Spiked Today
Sony will hold an investor event on Thursday to detail its plan for the upcoming spin-off of its financial services arm. Shareholders will receive 80% of the newly created shares. The company will refocus on its core consumer electronics and entertainment businesses. 10 stocks we like better than Sony Group › Shares of Sony Group (NYSE: SONY) rose on Tuesday. The company's stock was up 4% by the time the market closed. The move up comes as the S&P 500 jumped 2% and the Nasdaq Composite jumped 2.4%. Reuters reported that Sony will distribute 80% of newly created shares from the upcoming spin-off of its financial services arm. More details will be revealed in the company's Investor Day on Thursday. Sony took full control of Sony Financial Services several years ago, but after a change in Japanese Tax law, the company is spinning off the finance arm. The news that current Sony shareholders will receive 80% of the newly created shares helped boost its stock today. On Thursday, the company will reveal more details of its growth plan for the newly created company. The spin-off and direct listing, a move more common outside of Japan, is set to be the first partial spin-off under a 2023 tax law and the first direct public listing in over 20 years in Japan. The chief financial officer (CFO) of another Japanese company looking to follow suit told Reuters, "The partial spin-off has finally become tax-free, aligning with Western practices and giving an option for large Japanese companies... to shrink their conglomerate discount." The move is positive as it allows the company to refocus on its core businesses: entertainment and consumer electronics. It will free up capital to invest in these areas, especially the company's image sensors, critical for smartphones. Sony has solid growth prospects and valuable intellectual property on the entertainment side, and a proven record of innovation in consumer electronics. I think its a good pick, especially as it refocuses post spin-off. Before you buy stock in Sony Group, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Sony Group wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $639,271!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $804,688!* Now, it's worth noting Stock Advisor's total average return is 957% — a market-crushing outperformance compared to 167% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of May 19, 2025 Johnny Rice has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. Why Sony Stock Spiked Today was originally published by The Motley Fool Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
