AdvertisementAdvertisementBusiness29 Sep 2025 08:06AM (Updated: 29 Sep 2025 08:18AM) Bookmark Bookmark WhatsApp Telegram Facebook Twitter Email LinkedInRead a summary of this article on FAST.Get bite-sized news via a newcards interface. Give it a try.Click here to return to FAST Tap here to return to FASTFAST TOKYO :Shares in Sony Financial were untraded with a glut of buy orders in Tokyo on Monday after the business was spun-off from entertainment and technology conglomerate Sony.Sony distributed shares in its finance arm, which includes banking and insurance, to shareholders through dividends in kind as it focuses on entertainment.It is the first partial spin-off in Japan taking advantage of a 2023 tax change and the first direct listing in more than two decades.The reference price was 150 yen ($1.00). In a direct listing, a company lists on the stock market without a traditional initial public offering.Sony Financial has said will buy back up to 100 billion yen of its shares.Sony aims to expand its presence in entertainment, spanning from games to movies and music, and maintain its position as the leading manufacturer of image sensors.($1 = 149.2700 yen)Source: ReutersNewsletterWeek in ReviewSubscribe to our Chief Editor’s Week in ReviewOur chief editor shares analysis and picks of the week's biggest news every Saturday.Sign up for our newslettersGet our pick of top stories and thought-provoking articles in your inboxSubscribe hereGet the CNA appStay updated with notifications for breaking news and our best storiesDownload hereGet WhatsApp alertsJoin our channel for the top reads for the day on your preferred chat appJoin hereAlso worth readingContent is loading...Expand to read the full storyGet bite-sized news via a newcards interface. Give it a try.Click here to return to FAST Tap here to return to FASTFAST