Sony acquires all shares of Sony Financial Holdings

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Japanese tech giant Sony Group, said it is buying the rest of its financial arm for $3.7 billion.

The move which could result in tax savings worth 175 billion yen will also enable Sony to have access to good cash flow.

In a statement made at its annual strategy session, CEO of the $80 billion tech giant said, Sony Group will now focus on people. This is a similar strategy to what Facebook announced earlier this year.