Sony still intends to list financial unit, but has yet to decide how |
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Published
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Thu, 26 Apr 2007 09:20
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TOKYO (XFN-ASIA) - Sony Corp still intends to list its wholly-owned financial unit, Sony Financial Holdings Inc (SFH), but has yet to decide exactly how to go about it, Sony said.'There is no change in Sony Corp's plan to make an initial public offering of SFH at an appropriate time during the fiscal year ending March 2008 or thereafter,' Sony said in a written statement.'We would like to refrain from making any further comments.'Sony's statement followed the appearance in the Nikkei newspaper of a report saying that the company plans to float at least 30 pct of SFH in the autumn here and so raise some 300 bln yen.SFH is the holding company for Sony Life Insurance Co, Sony Assurance Inc and Sony Bank.(1 usd = 118.86 yen)yasuhiko.seki@xfn.com
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Sony to take financial unit public, raise 300 bln yen - report 