How it started
History
In March 2004, Sony received approval from the Financial Services Agency of Japan to establish a holding company under the Insurance Business Act and a holding company under the Banking Act. The following month, Sony established Sony Financial Holdings through a corporate split. This placed Sony Life Insurance, which became a Sony subsidiary in 1996, Sony Insurance, which was established in 1998, and Sony Bank, which was established in 2001, under the same umbrella.
In 2020, Sony acquired Sony Financial Holdings through a tender offer, delisting it from the First Section of the Tokyo Stock Exchange and making it a wholly owned subsidiary.
In 2021, Sony Financial Holdings changed its name to Sony Financial Group.
From Wikipedia’s article on Sony Financial Holdings, shared under CC BY-SA 4.0.3