Sony Group Corporation (NYSE: SONY) plans to spin off its financial services arm, allowing it to raise funds independently while still using the Sony brand. The company will distribute over 80% of its shares in the financial group to shareholders as dividends. A direct listing is set for September 29.

The financial group under Sony Group Corporation includes banking and insurance. The company plans to buy back shares worth about 100 billion yen by March 2027 and invest in IT systems and strategic mergers and acquisitions. Sony has shifted focus to entertainment, with last year’s profits driven largely by its PlayStation games business.

Sony Group Corporation has sold off hardware operations to focus on entertainment. The company’s CEO Hiroki Totoki emphasized the need for the financial services business to make strategic investments. A Japanese company is doing a partial spin-off with a direct listing for the first time in over two decades.

While Sony (SONY) presents investment potential, other AI stocks may offer greater upside. Investors can explore opportunities in AI stocks poised to benefit from current economic trends. For more information, see Insider Monkey’s report on the best short-term AI stock.

Read more at Yahoo Finance: Sony Group (SONY) Plans Major Change for Financial Group