Sony to turn financial arm into wholly owned unit for $3.7 billion: Nikkei

TOKYO (Reuters) - Sony Corp (6758.T) will turn its financial arm, Sony Financial Holdings Inc (8729.T), into a wholly owned unit through a tender offer worth about 400 billion yen ($3.72 billion), the Nikkei business daily reported.

The early-afternoon report send shares of Sony Financial Holdings up nearly 17% to 2,412 yen, while Sony Corp shares rose 3%. Sony was not immediately available to comment.

($1 = 107.4000 yen)

Reporting by Makiko Yamazaki; Editing by Himani Sarkar

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