"Consolidation in entertainment has been happening and Sony doesn’t want to be left behind."
Sony is considering spinning off and relisting shares of its financial services arm to boost investments in its entertainment business, according to Financial Times. The company plans to retain a stake of 20% and target a timeframe of two to three years for the listing.
"In order to expand our growth over the medium to longer term, we will need the ability to invest in image sensors and the entertainment business at a completely new level," said Sony's president Hiroki Totoki.
Sony has acquired multiple companies, including EMI Music Publishing, Crunchyroll, and Bungie, to expand its entertainment reach. Totoki said that Sony plans to utilize a government program that enables businesses to separate their units without facing extra tax burdens.
"Consolidation in entertainment has been happening and Sony doesn’t want to be left behind," commented analyst David Gibson.
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