Sony Financial Group will begin trading on the Tokyo Stock Exchange on September 29,  after its spinoff from Sony Group.

The company operates insurance and banking units and was valued at about ¥1 trillion (US$6.7 billion) based on its reference price of ¥150 (US$1.01) per share.

This marks Japan’s first direct listing in over 20 years and comes amid government efforts to encourage corporate spin-offs and portfolio restructuring.

Sony Group is shifting its focus to entertainment and image sensors with this move.

Analysts note Sony Financial Group could face selling pressure as it will be excluded from the Nikkei 225 index, leading to passive funds offloading shares.

Rising interest rates may also impact its life insurance business, which holds a large amount of Japanese government bonds.

The company forecasts a net profit of ¥82 billion (US$550.5 million) for the fiscal year ending March 2026, a 4.1% rise year-on-year.

Nomura, Goldman Sachs, and JP Morgan advised on the deal.

🔗 Source: Bloomberg