Sony is turning its listed subsidiary Sony Financial Holdings into a wholly owned in house entity, in a deal that will cost $3.73BN (400 billion yen). According to financial paper Nikkei, the move …
is turning its listed subsidiary Sony Financial Holdings into a wholly owned in house entity, in a deal that will cost $3.73BN .
According to financial paper Nikkei, the move is being made to take control of a stable profit generator during the current pandemic, and mirrors similar action taken by Alibaba and Apple. Sony already owns 65% of the unit and will purchase the remaining shares through a tender offer, paying $24.19 per share, a premium of around 30% over the current price.
The report says the Japanese electronics and entertainment giant will combine its artificial intelligence capabilities with the expertise of Sony Financial, which operates a bank as well as insurance providers. “Our financial business has a value chain that starts and ends within Japan,” said Sony CEO Kenichiro Yoshida at a corporate strategy meeting on Tuesday, according to Nikkei. “With heightening geopolitical risks, we thought it would be best to make this move. We also believe it will lead to long-term improvement of corporate value.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Sony to Acquire Full Control of Financial Unit for $3.7 BillionSony said it planned to buy the portion of its financial unit that it doesn’t own for about ¥400 billion ($3.7 billion), highlighting the electronics maker’s strategy of keeping a diverse portfolio of businesses
Lire la suite »
Sony to turn financial arm into wholly owned unit for $3.7 billion: NikkeiSony Corp will turn its financial arm, Sony Financial Holdings Inc , into a wholly owned unit through a tender offer worth about 400 billion yen ($3.72 billion), the Nikkei business daily reported on Tuesday.
Lire la suite »
Sony Poised To Buy Finance Unit for $3.7 Billion (Report)Japanese electronics to entertainment giant Sony is expected to offer up to $3.7 billion (JPY400 billion) to take full control of its finance division. The move would shore up its profits. Sony pre…
Lire la suite »
Rod Wave Signs Publishing Deal With Sony/ATVSinger, songwriter and rapper Rod Wave has been signed to a worldwide publishing deal by Sony/ATV, the publisher announced Monday.
Lire la suite »
Sony not worried about Microsoft's next-gen Xbox: 'Wait for PS5 sales' - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Lire la suite »
Sony to turn financial arm into wholly owned unit for $3.7 billion: NikkeiSony Corp will turn its financial arm, Sony Financial Holdings Inc , into a wholly owned unit through a tender offer worth about 400 billion yen ($3.72 billion), the Nikkei business daily reported on Tuesday.
Lire la suite »