Group 1 - Sony Group is planning to spin off its financial services division, with over 80% of the shares to be distributed to existing shareholders as a physical dividend, setting a reference price of 150 yen (approximately $1) for the listing [1][2] - The spin-off will mark the first partial spin-off listing in Japan, with the new entity, Sony Financial Group, expected to be listed on the Tokyo Stock Exchange's Prime Market on September 29 [2][3] - The spin-off aims to create clearer business boundaries, enhance capital efficiency, and improve valuation comparability, allowing Sony to focus on its core entertainment and technology sectors [3][4] Group 2 - The financial services division, which includes insurance and banking, was fully acquired by Sony in 2020 to stabilize overall operations, and this spin-off will allow it to return to the stock market [2][3] - Sony's stock has seen significant growth, with over a 30% increase in the Japanese market and a 39% rise in its ADRs in the US this year, outperforming the S&P 500 [2] - The independent listing of the financial subsidiary is expected to enhance its capital market image and shareholder returns, with a plan to repurchase approximately 100 billion yen worth of shares by March 2027 [5]