Sony eyes finance unit listing, doubles down on entertainment

  • 📰 asiaonecom
  • ⏱ Reading Time:
  • 32 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 16%
  • Publisher: 59%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

TOKYO - Sony Group Corp on Thursday (May 18) 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. Sony said it is considering a time frame of two to three years to spin off Sony Financial Group - whose operations include...

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.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 10. in NG

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Sony eyes finance unit listing, doubles down on entertainmentTOKYO :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.Sony said it is considering a time frame of two to three years to spin off Sony Financial Group -
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »