Global corporation Sony has said it is assessing plans whether to have a partial spin-off of its financial services business.
Sony said in a statement on 18 May that it is looking at listing Sony Financial Group, which includes life insurance and banking, and retaining a stake of slightly less than 20%.
It added that financial services business is likely to utilise the Sony brand, including in the company name, and continue to generate synergies with Sony Group companies after the execution of the spin-off.
Sony said that the timing of the “execution of the spin-off has not been determined”.
But Sony added it will “proceed with its assessment leading up to the end of the fiscal year ending 31 March 2024, giving consideration to executing the spin-off within the next two-to-three years”.
