- Blackstone, a global alternative asset manager, is acquiring a majority stake in Sony Payment Services Inc. (SPSV) from Sony Bank.
- This marks Blackstone’s first investment in Japan’s fintech sector.
- Sony Bank will retain a minority stake in SPSV and roll over a portion of its equity as part of the deal.
- SPSV, established by Sony Group in 1995, provides payment infrastructure for online payments for consumers and businesses.
- Steve Schwarzman, Blackstone’s chairman and CEO, highlights the longstanding partnership with Sony, dating back almost 40 years.
- The deal aims to deepen Blackstone’s presence in Japan, considered a key market for the company.
- Keiji Minami, president and CEO of Sony Bank, notes SPSV’s steady growth and customer trust in its services.
- With the increasing shift towards cashless payments, Sony sees Blackstone as the ideal partner, offering a global perspective and expertise in the payment business.
- Hidehiko Nakamura, president and CEO of Sony Payment Services, anticipates the partnership will enhance SPSV’s capabilities through investments in IT and talent, fostering growth in Japan’s electronic payment industry.
Blackstone set to acquire majority stake in Japan’s Sony Payment Services
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