TOKYO Sony Corp. intends to offer financial services over the Internet, and is preparing to launch an online bank as early as this autumn.
The Net bank will have capital of about $350 million, 80 percent of which will be owned by Sony, 16 percent by Sakura Bank and 4 percent by J.P. Morgan.
Sony said online financial services will be an indispensable part of its digital network business, into which the company is putting great effort.
The detailed business plan of Sony's digital network is now taking shape, said Tamotsu Iba, the Sony executive deputy president who was appointed president of the Net bank. The bank will collect about $9.3 billion in deposits in its first five years, Iba said.