Sony considers splitting financial sector to go public to enhance investment strength

Sony plans to increase its acquisition efforts to maintain its competitive advantage in the entertainment industry. The news was released on May 23. Sony last year announced a strategic plan to invest 2 trillion yen over three years, and now they will be more active in making more acquisitions.

According to the Financial Times, Sony is increasing its efforts in acquisitions. Sony’s current president Hiroki Totoki said that they are considering spinning off their financial business and listing it on the market to enhance their investment capabilities. He said: "To achieve growth in the medium to long term, we need to make unprecedented levels of investment, focusing on the image sensor and entertainment business areas." ”

According to ITBEAR Technology Information, at the same time, the integration and acquisition of the game industry continue to proceed, Sony’s senior analyst David Gibson said the IPO of Sony's financial unit will make the company more "aggressive" in mergers and acquisitions. He also emphasized: "The entertainment industry has been consolidating, and Sony does not want to fall behind." After the news came out, Sony's stock price immediately rose, and investors expressed satisfaction with Sony's plan.

Sony delivered compelling results in its financial reports for the fourth quarter and full fiscal year 2022. Sales in the fourth fiscal quarter reached 3.0636 trillion yen, a year-on-year increase of 35%; net profit attributable to Sony Group shareholders was 128.2 billion yen, a year-on-year increase of 15%. For the whole year, Sony's sales were 11.5398 trillion yen, a year-on-year increase of 16%; operating profit was 1.2082 trillion yen, a year-on-year increase of 0.5%; net profit attributable to Sony Group shareholders was 937.1 billion yen, a year-on-year increase 6%. Among them, the sales of the game and network services department, which is mainly PlayStation business, were 364.46 million yen, a year-on-year increase of 33%.

Sony's ambitious investment strategy and active mergers and acquisitions demonstrate their determination in the entertainment industry.. Sony hopes to maintain its leading position by expanding investment and business scope to cope with fierce market competition. As Sony continues to grow in the entertainment industry, we'll continue to follow their latest developments.

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