MUMBAI: Sony Corporation has raised its stake in Sony Financial Holdings from 63 per cent. The latter is the holding company for Sony's financial services business. However, the total per cent of stake that Sony will now hold in its financial department is still unknown. 

The company bought 9 million shares on Tuesday for 2,144 yen each in an off-market transaction. Sony Corporation already holds 274,050,000 shares in the company.

The ¥19.3 billion (around 170 Million) acquisition will boost net income for Sony’s shareholders with the goal of raising corporate value for both the Sony Group and Sony Financial.

The company also said that it's desirable for Sony Financial to maintain its listed status, and secure transparent management and independent financing

The Financial division which was founded in 2004 is headquartered in Tokyo, Japan, and owns and oversees the operation of Sony Life Insurance, AEGON Sony Life Insurance (50 per cent joint venture with Aegon N.V.), SA Reinsurance Ltd. (50 per cent joint venture with Aegon; British Bermuda), Sony Life Singapore, Sony Assurance, Sony Bank, Sony Payment Services, SmartLink Network Hong Kong Limited, Sony Lifecare and Lifecare Design.