Sony Says Spinoff Will Give Financial Arm Its Own Fundraising Capabilities

News Source : Insurance Journal

News Summary

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 set for September 29
The business plans to repurchase shares totaling some 100 billion yen through to March 2027

Sonys CEO said on Thursday the spinoff of the groups financial services arm will give that business its own fundraising capabilities.It is significant that, through the spinoff, Sony (Financia [+1185 chars]

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