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September 2, 2020
As announced at Sony Corporation's ("Sony") Corporate Strategy Meeting held on May 19, 2020 and in "Announcement Regarding Commencement of Tender Offer for Shares, and Share Acquisition Rights of Sony Financial Holdings Inc. (Securities Code: 8729)" issued on the same date, in order to achieve further growth and strengthen governance within its financial services business and thereby enhance the corporate value of the overall Sony Group, Sony commenced a tender offer for shares and share acquisition rights of Sony Financial Holdings Inc. ("SFH"), of which it then owned an approximately 65% stake, with a view to making SFH a wholly-owned subsidiary.
Since then, following the results of this tender offer, as advised in the "Announcement Regarding Results of Tender Offer for Shares and Share Acquisition Rights of Sony Financial Holdings Inc. (Securities Code: 8729)" issued on July 14, 2020, Sony commenced procedures to acquire all the common shares of SFH. The acquisition completed today, and SFH has now become a wholly-owned subsidiary of Sony.
Alongside electronics and entertainment, financial services is a core business that is integral to the long-term growth strategies of the Sony Group. Under the leadership of Masashi Oka, the new President and CEO of SFH appointed in June 2020, we will aim to implement measures to further strengthen this business and explore further opportunities for synergies, including leveraging Sony's technology in the financial services business, to generate unique customer value that only Sony Group can deliver.