The Sony logo is displayed outside the company's headquarters in Tokyo, Japan on Feb 16.TOKYO - Sony Group Corp on Thursday said it is examining a partial spin-off of its financial business just three years after taking full control, as the conglomerate doubles down on entertainment and image sensors.
Given the capital the business requires, "it is a challenge to balance this with our investment in other growth areas such as entertainment and image sensors," Sony Chief Financial Officer Hiroki Totoki told a strategy briefing. A partial spin-off of Sony Financial, which the group said was made possible by changes in tax rules, would allow the newly listed business to retain Sony branding.
The finance business reported a five per cent fall in revenue to 1.45 trillion yen in the year ended March. Operating profit rose 49 per cent to 223.9 billion yen helped by a one-off gain from a real estate sale.
Source: News Formal (newsformal.com)
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