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Companies

Sony to become Sony Group, integrating financial unit

Electronics icon bolsters fintech, in line with Alibaba and Apple

Sony owns about 65% of Sony Financial Holdings and plans to buy the remaining shares through a tender offer.

TOKYO -- Sony will make listed subsidiary Sony Financial Holdings a wholly owned unit for 400 billion yen ($3.73 billion) as it follows global tech giants Alibaba Group Holding and Apple in turning to finance as a stable profit generator that performs even during crises like the current pandemic, Sony announced Tuesday.

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