Sony to Separate Financial Unit, Distribute Shares to Investors

Sony Group Corp is spinning off its financial unit and distributing shares of SFGI to investors. The move is part of the company's efforts to focus on its core businesses in games, music, movies, electronics, imaging, and sensing solutions. Sony's financial field primarily consists of insurance and banking businesses. The spin-off is expected to help the company streamline its operations and improve efficiency.

Sony Group Corp is set to spin off its financial services unit, Sony Financial Group Inc. (SFGI), in a strategic move aimed at streamlining operations and enhancing efficiency. The spin-off will see slightly more than 80% of SFGI shares distributed to Sony Group Corporation shareholders through dividends in kind [1]. This move is part of Sony's broader strategy to focus on its core businesses in games, music, movies, electronics, imaging, and sensing solutions.

The spin-off is expected to improve management speed and flexibility by eliminating restrictions from the parent-subsidiary listing structure. This will allow Sony to promote growth strategies in its financial services business and strengthen mutual cooperation among its various businesses [1]. Additionally, the spin-off aims to create synergies within the Sony Group and optimize the company's balance sheet, which has been expanding due to the growth of the financial services business.

Sony Financial Group (SFGI and its consolidated subsidiaries) will carry out growth strategies flexibly while continuing to use the Sony brand. The company plans to focus on the independent business and growth strategies of the financial services business and accelerate its decision-making processes. This move is expected to realize sustainable growth for both Sony and Sony Financial Group [1].

In parallel, Sony is also making strides in the Web3 space. The company has introduced Soneium, a Layer-2 blockchain based on the Optimism OP Stack, which includes the "Soneium Score" system. This on-chain points system tracks and benefits actual user activity in the blockchain ecosystem, encouraging real, sustained participation rather than short-term or automatic actions [3]. The Soneium Score allocates points based on various user activities such as trading assets, staking, minting NFTs, and participation in ecosystem projects. Users who accumulate 80+ points can attain an SBT badge, a unique token that reflects their reputation in the blockchain. This initiative demonstrates Sony's commitment to providing individuals with control over their digital identity and involvement in the evolving digital world.

The spin-off and the introduction of the Soneium Score are part of Sony's broader strategy to focus on its core businesses and innovate in the Web3 space. These moves are expected to enhance the company's operational efficiency and foster growth in its key areas.

References:
[1] https://www.sony.com/en/SonyInfo/IR/library/SFG_pso/
[2] https://www.marketscreener.com/news/sony-group-corp-resolution-for-execution-of-partial-spin-off-of-financial-services-business-divide-ce7d59dadf8af026
[3] https://coinfomania.com/sonys-soneium-unveils-on-chain-reward-system-soneium-score/