Sony eyes finance unit listing, doubles down on entertainment

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.

In the current financial year, Sony expects a 40 per cent drop in revenue at the unit due to an accounting change, and a 20 per cent drop in profit due to the absence of the year prior's one-off gains.

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