37bn

Sony to take full control of financial unit for $3.7bn

TOKYO — Sony will turn listed subsidiary Sony Financial Holdings into a wholly owned unit for 400 billion yen ($3.73 billion) as it follows global tech giants Alibaba Group Holding and Apple in turning to finance as a stable profit generator that performs even during crises like the current pandemic, Nikkei has learned.

The Japanese electronics and entertainment group intends to combine its artificial intelligence and other technologies with the expertise of Sony Financial, which has a bank as well as life and casualty insurers under its umbrella.

Low share prices due to the coronavirus-triggered economic downturn convinced Sony to

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Takeda aims to sell over-the-counter unit for $3.7bn

TOKYO — Takeda Pharmaceutical plans to sell its over-the-counter medicine business, looking to reduce a massive debt load after last year’s purchase of Irish drugmaker Shire and tighten its focus on advanced treatments, Nikkei learned Friday.

Japan’s biggest drug company is talking with financial institutions to choose a potential buyer for wholly owned subsidiary Takeda Consumer Healthcare, aiming to sell for around 400 billion yen ($3.71 billion).

Taisho Pharmaceutical, the top Japanese player in over-the-counter medicine, is reportedly a leading candidate. But with the coronavirus pandemic clouding the outlook for markets and the economy, whether negotiations will proceed remains unclear.

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