Sony Financial Group Explained

Sony Financial Group Inc.
Native Name:ソニーフィナンシャルグループ株式会社
Native Name Lang:ja
Romanized Name:Sonī Finansharu Gurūpu Kabushiki-gaisha
Former Name:Sony Financial Holdings
Type:Subsidiary
Industry:Financial services
Foundation:[1]
Location:Ōtemachi, Chiyoda-ku, Tokyo, Japan
Key People:Shigeru Ishii
Products:Financial products
Num Employees:13,500
Parent:Sony Group Corporation
Assets:¥ 14.5 trillion[2]

, formerly known as, is a Japanese holding company for Sony's financial services business and headquartered in Tokyo, Japan.[1] It operates various businesses, including both life and non-life insurances, online banking, credit card settlement, nursing care, and venture capital.

History

In March 2004, Sony received approval from the Financial Services Agency of Japan to establish a holding company under the Insurance Business Act and a holding company under the Banking Act. The following month, Sony established Sony Financial Holdings through a corporate split. This placed Sony Life Insurance, which became a Sony subsidiary in 1996, Sony Insurance, which was established in 1998, and Sony Bank, which was established in 2001, under the same umbrella.

In 2020, Sony acquired Sony Financial Holdings through a tender offer, delisting it from the First Section of the Tokyo Stock Exchange and making it a wholly owned subsidiary.[3]

In 2021, Sony Financial Holdings changed its name to Sony Financial Group.

Subsidiaries

References

  1. Web site: About Sony Financial Holdings Inc.. www.SonyFH.co.jp. Sony Financial Holdings Inc.. 21 June 2017. 24 October 2017. https://web.archive.org/web/20171122161908/http://www.sonyfh.co.jp/en/company/about_us.html. 22 November 2017. live.
  2. Web site: Sony to take full control of listed financial arm for $3.7 billion. Total assets stood at 14.5 trillion yen as of the end of last year.. 18 July 2020. https://web.archive.org/web/20200604072746/https://uk.reuters.com/article/us-sony-outlook-sony-financial/sony-to-take-full-control-of-listed-financial-arm-for-3-7-billion-idUKKBN22V0FO. 4 June 2020. live.
  3. Web site: Sony completes $3.7bn takeover of financial unit. 2020-07-17. Nikkei Asian Review. en-GB. https://web.archive.org/web/20200717113423/https://asia.nikkei.com/Business/Business-deals/Sony-completes-3.7bn-takeover-of-financial-unit. 17 July 2020. live.
  4. Web site: About Our Group About Us Sony Financial Holdings. 2020-07-22. www.sonyfh.co.jp.

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