Sony Financial’s Historic Spin-Off Ignites Tokyo Market Frenzy

Sony Financial Group debuted as a standalone entity in Tokyo, marking Japan's first partial spinoff under 2023 tax reforms and the city's first direct listing in two decades. The ¥150/share reference price proved conservative as buy orders overwhelmed supply from the opening bell, delaying trade execution.

Investor enthusiasm stems from Sony Financial's entrenched position in banking and insurance sectors, viewed as a cash-generative business with 40 million customers. The company's commitment to ¥100 billion in share buybacks signals confidence in stabilizing post-listing volatility.

The MOVE completes Sony Group's strategic pivot toward global entertainment and tech leadership. By retaining minority ownership while freeing the financial unit to pursue independent growth, Sony executes a rare corporate maneuver that could redefine Japanese capital markets.