Sony Financial Spinoff Reference Share Price Set at 150 Yen
Sony Group Corp. has set the reference share price for the spinoff of its financial unit at 150 yen ($1). This move is part of the company's strategy to tighten its management focus. The spinoff will be underwritten by Nomura Securities Co. The financial unit, which includes Sony's banking and insurance businesses, will be listed as a separate entity, allowing Sony to concentrate on its core entertainment and electronics operations. The spinoff is expected to provide Sony with more flexibility and allow it to better allocate resources to its various business segments. This strategic decision reflects Sony's ongoing efforts to streamline its operations and enhance its overall competitiveness in the market.
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