News On Japan

Sony Group zeroes in on games, chips with financial unit spinoff

TOKYO, May 19 (Nikkei) - Sony Group will spin off its financial unit to focus resources on entertainment and image sensor operations as the investment burden needed to compete with foreign rivals continues to rise.

The group announced Thursday that it is considering a stock market listing by Sony Financial Group within the next two to three years. Sony Group will maintain a nearly 20% stake in the company, which will continue to operate and provide services under the Sony name.

Thanks to Japan's tax reforms for fiscal 2023, companies can now qualify for tax relief when spinning off a unit as long as they reduce ownership to below 20%. Previously, they had to unwind their entire stake. Sony began considering its current plan in February in light of this change, and is on track to become the first company to take advantage of it. ...continue reading

Source: ANNnewsCH

News On Japan
POPULAR NEWS

From April 1st, a new regulation took effect across Osaka Prefecture requiring all restaurants with a customer seating area larger than 30 square meters to become entirely smoke-free indoors—unless they install a designated smoking room. Establishments violating the rule face fines of up to 50,000 yen, while customers may be fined up to 30,000 yen.

The Imperial Household Agency launched an official YouTube channel on April 1st to introduce the activities of Emperor Naruhito and Empress Masako.

Japan's new fiscal year began on April 1st, with companies across the country holding entrance ceremonies to welcome new employees.

The Japanese government has released an updated damage forecast for a potential Nankai Trough megaquake, estimating that up to 298,000 people could die in the worst-case scenario. This projection reflects a slight reduction from the previous estimate of 332,000 deaths made 13 years ago.

The Japan Meteorological Agency announced on March 30th that cherry blossoms (Somei-Yoshino) in central Tokyo have reached full bloom, one day earlier than the historical average and five days earlier than last year.

MEDIA CHANNELS
         

MORE Business NEWS

The Japanese government approved a cabinet ordinance on April 1st to introduce a new pre-screening system for foreign companies investing in Japan. The revised regulation will take effect on May 19th.

The Bank of Japan's March Tankan survey, a key quarterly economic report, showed that business sentiment among large manufacturers has deteriorated for the first time in four quarters.

Tokyo has made it mandatory to install solar panels on newly built houses starting April 1st, as part of its broader effort to halve greenhouse gas emissions by 2030.

The new fiscal year began on April 1st, with companies across the Kansai region holding entrance ceremonies to welcome new employees.

Sukiya, one of Japan's leading beef bowl restaurant chains, announced it will temporarily close nearly all of its stores after an insect was found in a food item served at one of its outlets.

Fuji Television announced a sweeping overhaul of its management structure on March 27th, including the retirement of longtime executive Hisashi Hieda, who served on the board for 41 years.

The Trump administration announced on March 26th that it will impose an additional 25% tariff on imported automobiles and key auto parts. According to the proclamation signed by President Trump, the tariffs are set to take effect on April 3rd and will apply to all imported vehicles, including those from Japan.

Rapidus, a company aiming to domestically produce next-generation semiconductors, plans to begin operating its prototype line for advanced chips in April. The company is accelerating development of 2-nanometer-class semiconductors, expected to be used in artificial intelligence (AI) applications.