Shulou(Shulou.com)11/24 Report--

Thanks to CTOnews.com netizens for the delivery of clues on the way! According to CTOnews.com5 news on March 18, Sony Group said today that it is considering breaking up part of its financial business as it doubles its bets on entertainment and image sensors.

Sony said it was considering spinning off Sony Financial Group, which includes life insurance and banking, in the next two to three years, with the goal of listing the business and retaining a stake of just under 20 per cent.

"it is a challenge to strike a balance between investments in other areas such as entertainment and image sensors, given the funding required for this business," Hiroki Totoki, Sony's chief financial officer, said at a strategy briefing.

The group is looking for synergies between its businesses, including games, music and movies. Sony says HBO's hit show "The Last of Us" has promoted the popularity of the game franchise it is based on and the music it uses.

The break-up of Sony Finance will allow the new listed company to retain the Sony brand. Sony says this is due to a change in tax rules.

Writing on Smartkarma, Mio Kato, an analyst at LightStream Research, said: "in terms of Sony's prospects, this will not change anything significantly, but it does make Sony a more pure entertainment company, which is generally liked by the market."

In the year to March, Sony Group's financial revenue fell 5% to 1.45 trillion yen (CTOnews.com Note: currently about 73.95 billion yuan). Operating profit rose 49% to 223.9 billion yen (currently about 11.419 billion yuan), thanks to one-off gains from real estate sales.

Sony expects the division's revenue to fall by 40% due to changes in accounting systems, and profits will fall by 20% without last year's one-off gains.

Sony shares rose 6 per cent in Tokyo trading, a day after the company said it would buy back up to 2.03 per cent of its shares.

Welcome to subscribe "Shulou Technology Information " to get latest news, interesting things and hot topics in the IT industry, and controls the hottest and latest Internet news, technology news and IT industry trends.