- 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.
