Sony Bank's Announcement on Establishment of Securities Subsidiary and the Preparations for Its Commencement of Operations
July 26, 2007
Sony Bank Inc., an 88.0%-owned subsidiary of Sony Financial Holdings, today announced that Sony Bank has established its wholly-owned Internet securities subsidiary, Sony Bank Securities Inc. on June 19, 2007, and that the new subsidiary is currently carrying out registration procedures, in line with applicable legal requirements, with the aim of commencing operations.
1. Purpose of Establishing the Securities Subsidiary
Sony Bank established this Internet subsidiary to provide full-fledged securities intermediary services to Sony Bank customers. The new subsidiary will expand the range of asset management tools available to Sony Bank customers, allowing them to invest in securities. The new subsidiary's services extend Sony Bank's product and information lineup and helps customers meet their medium- to long-term asset management needs through the convenience of online securities trading and funds settlement.
2. Profile of the Securities Subsidiary
| Name | Sony Bank Securities Inc. |
|---|---|
| Established | June 19, 2007 |
| Headquarters | Akasaka, Minato-ku, Tokyo, Japan |
| Capital | ¥3,000 million (Common stock of ¥1,500 million, capital reserve of ¥1,500 million) |
| Ownership | Wholly owned by Sony Bank Inc. |
| President and Representative Director | Yasuhiro Sugiura (Formerly head of the Securities Business Development Dept. of Sony Bank) |
| Business | Securities business (Online brokerage) |
Sony Bank Securities is currently carrying out registration procedures in line with applicable legal requirements, with the aim of commencing operations.
Note: This is an English-language summary of a Japanese announcement made by Sony Bank on July 26, 2007. The summary was prepared by Sony Financial Holdings Inc. solely for the convenience of non-Japanese readers.
