Transfer of part of Sony Payment Services' shares and conversion to an equity-method affiliate
First written in FY2024-Q3. 1 of 2 entries say "Achieved", first in FY2024. Latest entry: FY2024.
6 other companies' latest entry also says "Achieved".
- FY2024AchievedAnnual report
「On 31 January 2024, Sony Bank Inc., a wholly owned subsidiary of Sony, transferred part of its shares in Sony Payment Services Inc., formerly its consolidated subsidiary, to a special-purpose company established by a private equity fund managed by Blackstone Inc. and its affiliates. As a result of the transfer, Sony Payment Services became an equity-method affiliate of Sony. For fiscal 2023, Sony recorded a total of ¥19.763 billion in other operating income (expense), net, comprising the gain on sale from the transfer and the remeasurement gain based on the fair value of the shares that Sony continued to hold after the transfer.」
The transfer of part of Sony Payment Services' shares and its conversion to an equity-method affiliate were completed, and ¥19.763 billion in gains on sale and remeasurement gains was recorded. - FY2024-Q3First statedAnnual report
「On 31 January 2024, Sony Bank Inc., a wholly owned subsidiary of Sony, transferred part of its shares in its consolidated subsidiary Sony Payment Services Inc. to a special-purpose company established by a private equity fund managed by Blackstone Inc. and its affiliates. As a result of the transfer, Sony Payment Services became an equity-method affiliate of Sony. For fiscal 2023, Sony expects to record approximately ¥20 billion in operating income, comprising the gain on sale from the transfer and the remeasurement gain based on the fair value of the Sony Payment Services shares that Sony will continue to hold after the transfer.」
Part of Sony Payment Services' shares was transferred, and the company changed from a consolidated subsidiary to an equity-method affiliate. A total of approximately ¥20 billion was expected to be recorded in operating income for fiscal 2023 as a gain on sale and a remeasurement gain on the shares retained.