Sony Financial Holdings Inc.: Third Point Has A Point [Seeking Alpha]
SONY CORP (SNE)
Last sony corp earnings: 10/31 04:02 pm
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Source: Seeking Alpha
Sony Financial Holdings Inc.: Third Point Has A Point Summary While I do not believe that Sony Corp. should give in to demands by activist investor Third Point, I agree with the proposals made for Sony Financial Holdings Inc. Sony's 65.06 percent majority stake in Sony Financial Holdings represents a value of about $5.9 billion. At the same time, Sony Financial Holdings' businesses (predominantly life insurance) are not befitting Sony's remaining semiconductor, consumer electronics and various entertainment divisions too well. While it is true that the Sony brand is an important asset for Sony Financial Holdings, the brand name could be retained without problems, regardless of the shareholder structure. While supportive of Third Point's idea of a sale of Sony Financial Holdings, I would, however, be open for a spinoff to Sony shareholders as well. As I have previously explained SNE OTCPK:SYFHF OTCPK:SNYFY Substantial Based on Sony Financial Holdings' current share price, the parent's
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