# Sony Bank

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Japanese commercial bank

Sony Bank, Inc. Headquarters in Chiyoda, Tokyo Native name ソニーバンク, ソニー銀行 Type Subsidiary Industry Banking Key people Keiji Minami (President and CEO)[1] Products Foreign currency deposits, investment trust, home loans Net income ¥6.6 billion (2019) Total assets ¥3,079.4 billion (2019) Number of employees 455 (2015) Parent Sony Financial Holdings

**Sony Bank, Inc.** (ソニー銀行株式会社) is a Japanese [commercial bank](/source/Commercial_bank) established in April 2001. It operates as a [direct bank](/source/Direct_bank) and has no physical branches or [ATMs](/source/Automated_teller_machine). It is one of the largest [online banks](/source/Neobank) in Japan and a subsidiary of [Sony Financial Holdings](/source/Sony_Financial_Group), the financial business unit of the multinational conglomerate [Sony Group Corporation](/source/Sony). Its main business is offering [online banking](/source/Online_banking) with foreign currency deposits, [investment trusts](/source/Investment_trust), and home loans.

## History

A reduction in regulations in Japan at the end of the 1990s encouraged a number of companies to enter the banking sector for the first time.[2]

Sony faced challenges as it began Sony Bank. In 2001, when Sony Bank was founded, Web use was limited in Japan as compared with the United States.[3] Only 24 million people used the Internet every month at that time.[3] Still, the company remained hopeful that infrastructure would improve.[3] Sony claimed its move into banking went hand-in-hand with its shift from a manufacturing focus to a focus on content such as [films](/source/Sony_Pictures_Entertainment) and [music](/source/Sony_Music_Entertainment).[4]

Sony announced its new banking unit in March 2000.[5] The bank started doing business on June 11, 2001.[3] The company began with [¥](/source/Japanese_yen)37.5 billion[5] of capital. It had around 80 employees at the time.[4] It added 340 online accounts during its first hour of operation.[3] At the time, the company offered yen-deposit accounts, [investment trusts](/source/Investment_trust), card loans, and [bank payments](/source/Electronic_funds_transfer).[3] It hoped to expand into foreign currency deposit accounts, [credit cards](/source/Credit_card), and housing loans by 2002.[3] It also hoped to allow its customers to use automated teller machines from the [Japan Post](/source/Japan_Post).

In 2001, Sony Bank hoped to accumulate 400,000 customers by 2004.[3][4] In February 2001, the company had hoped to accumulate $5.2 billion in deposits;[4] it adjusted that figure downward to $4.1 billion in deposits three months later.[3] In February 2001, the company aimed to gain $8.6 billion in deposits by 2006.[4] Analysts at the time were generally upbeat about the prospects for the bank. Raymond H. Graber of [TowerGroup](/source/TowerGroup) suggested the bank could synergize with the other operations of [Sony Financial](/source/Sony_Financial).[3] Still, Paul Jamieson of Gomez Advisors warned that customers would have high expectations for Sony Bank, given Sony's existing reputation for the ease of use and elegant design of its products.[3]

Shigeru Ishii was appointed and served as the first president of Sony Bank.[6]

As of 2005[\[update\]](https://en.wikipedia.org/w/index.php?title=Sony_Bank&action=edit) the company faced weak earnings.[7]

By 2007, Sony Bank had accumulated 500,000 customers.[8] That year, Sony planned to add an [electronic trading platform](/source/Electronic_trading_platform).[8]

In 2011, Sony had considered expanding its banking business into the Australian market,[9] only to abandon the idea in 2013.[10]

In 2019, Sony Bank started an English-language online banking service to meet the need of increasing foreign residents in Japan.[11]

In October 2025, Sony Bank applied for a banking license in the U.S. with the goal of issuing dollar-pegged stablecoins.[12]

## Ownership

Upon the bank's founding in 2001, Sony owned 80% of the bank.[3] By 2005, its stake had risen to 84.2% and [Sony Financial Holdings](/source/Sony_Financial_Holdings) became the intermediate [holding company](/source/Holding_company) of the bank.[7]

[Sumitomo Mitsui Financial Group](/source/Sumitomo_Mitsui_Financial_Group) owned a 16% initial stake in the company and allowed Sony Bank customers to access its 7,600 [automated teller machines](/source/Automated_teller_machine).[3] Sony Group is considered to be a [Mitsui](/source/Mitsui) [keiretsu](/source/Keiretsu). Sumitomo Mitsui had reduced its share to 12.6% by 2005.[7]

Upon the bank's founding in 2001, [JPMorgan Chase](/source/JPMorgan_Chase) owned a 4% stake in the bank.[3] JPMorgan had hoped to expand its [asset](/source/Asset_management) and [wealth management](/source/Wealth_management) services in Japan.[3] The company reduced its ownership to 3.2% by 2005.[7] It sold off its entire stake in 2005, claiming to have discussed the move with Sony in advance.[7] By the divestiture made by JP Morgan, Sony increased its ownership to 87.4%.[7]

In 2008, Sony Bank became a wholly owned subsidiary of [Sony Financial Holdings](/source/Sony_Financial_Holdings) after Sumitomo Mitsui sold its remaining stake to Sony.[13]

## References

1. **[^](#cite_ref-1)** ["CEO message"](https://sonybank.net/en/corp/ceo_message/). Retrieved 2024-01-10.

1. **[^](#cite_ref-NYT_2001_2-0)** "Sony Plans Online Bank". *New York Times*. Feb 1, 2001. p. W.1.

1. ^ [***a***](#cite_ref-Bach_3-0) [***b***](#cite_ref-Bach_3-1) [***c***](#cite_ref-Bach_3-2) [***d***](#cite_ref-Bach_3-3) [***e***](#cite_ref-Bach_3-4) [***f***](#cite_ref-Bach_3-5) [***g***](#cite_ref-Bach_3-6) [***h***](#cite_ref-Bach_3-7) [***i***](#cite_ref-Bach_3-8) [***j***](#cite_ref-Bach_3-9) [***k***](#cite_ref-Bach_3-10) [***l***](#cite_ref-Bach_3-11) [***m***](#cite_ref-Bach_3-12) [***n***](#cite_ref-Bach_3-13) [***o***](#cite_ref-Bach_3-14) Bach, Deborah. "Sony Counting on its Brand as a Magnet for its Web Bank." *American Banker*: 12. Jun 12 2001.

1. ^ [***a***](#cite_ref-2001_Feb_1_4-0) [***b***](#cite_ref-2001_Feb_1_4-1) [***c***](#cite_ref-2001_Feb_1_4-2) [***d***](#cite_ref-2001_Feb_1_4-3) [***e***](#cite_ref-2001_Feb_1_4-4) Bach, Deborah. "Sony Seeks Japanese License for Web Bank; Morgan has Role." *American Banker*: 1. Feb 01 2001.

1. ^ [***a***](#cite_ref-Strom_5-0) [***b***](#cite_ref-Strom_5-1) Stephanie Strom (NYT), Dan Fineren (NYT), Elizabeth Olson (NYT) (Mar 31, 2000). "World Business Briefing". *New York Times*. p. C4.{{[cite news](https://en.wikipedia.org/wiki/Template:Cite_news)}}: CS1 maint: multiple names: authors list ([link](https://en.wikipedia.org/wiki/Category:CS1_maint:_multiple_names:_authors_list))

1. **[^](#cite_ref-Asiaweek_6-0)** "Enterprise: Companies : Online and in the Money." *Asiaweek* Aug 10 2001: 1-.

1. ^ [***a***](#cite_ref-WSJ_20052_7-0) [***b***](#cite_ref-WSJ_20052_7-1) [***c***](#cite_ref-WSJ_20052_7-2) [***d***](#cite_ref-WSJ_20052_7-3) [***e***](#cite_ref-WSJ_20052_7-4) [***f***](#cite_ref-WSJ_20052_7-5) "J.P. Morgan Chase & Co." Wall Street Journal: 1. ABI/INFORM Global. Sep 15 2005. Web. 27 May 2012.

1. ^ [***a***](#cite_ref-Pilling_8-0) [***b***](#cite_ref-Pilling_8-1) Pilling, David. "Camera Sales Raise Sonys Game." Financial Times: 23. ABI/INFORM Global. Jul 27 2007. Web. 27 May 2012.

1. **[^](#cite_ref-9)** [Sony eyes online Australian banking](http://www.theage.com.au/business/sony-eyes-online-australian-banking-20110728-1i1iu.html) July 28, 2011, *The Age*. Retrieved July 28, 2011.

1. **[^](#cite_ref-10)** ["Japanese giant Sony axes plan to set up online home loan business in Australia"](http://www.heraldsun.com.au/business/japanese-giant-sony-axes-plan-to-set-up-online-home-loan-business-in-australia/story-fni0dcne-1226805789978). *Herald Sun*. January 20, 2014.

1. **[^](#cite_ref-11)** Incorporated, Sony Bank. ["Sony Bank Launches New Service "English online banking""](https://www.prnewswire.com/news-releases/sony-bank-launches-new-service-english-online-banking-301031447.html). *www.prnewswire.com*. Retrieved 2020-05-25.

1. **[^](#cite_ref-12)** ["Sony Bank applies for US license, eyeing dollar-backed stablecoin"](https://asia.nikkei.com/spotlight/cryptocurrencies/sony-bank-applies-for-us-license-eyeing-dollar-backed-stablecoin). *Nikkei Asia*. 16 October 2025. Retrieved 16 October 2025.

1. **[^](#cite_ref-13)** ["Sony Bank to become wholly owned subsidiary"](https://www.sonyfh.co.jp/en/news/article/080229_01.pdf) (PDF). *Sony Financial Holdings*.

## External links

- [Sony Bank](http://sonybank.net/) in Japanese

v t e Sony History Founders Masaru Ibuka Akio Morita Primary businesses Sony Corporation Sony Semiconductor Solutions Sony Pictures Sony Music Group Entertainment Publishing Extreme Music Sony Music Entertainment Japan Aniplex A-1 Pictures CloverWorks Hayate Inc. Sony Interactive Entertainment PlayStation Technologies and brands α (Alpha) Archival Disc Betacam Bionz Blu-ray Bravia CD Cell Cyber-shot Dash Dream Machine DVD Exmor FeliCa Handycam HDCAM/HDCAM-SR HMZ-T1 Inzone LocationFree Memory Stick MiniDisc MiniDV MicroMV mylo PlayNow PlayStation Pyxis Reader S/PDIF SDDS 8 channel films Sony Entertainment Network SXRD Sony Tablet Tunnel diode TransferJet UMD Vaio Video8/Hi8/Digital8 Vision-S Walkman XDCAM Xperia Historical products AIBO CV-2000 DAT Betamax Sony CLIÉ Discman Jumbotron Lissa Mavica NEWS Optiarc PVM-4300 Qualia Rolly TR-55 Trinitron FD series 1 inch Type C U-matic Vaio Watchman WEGA Electronics Sony Creative Software FeliCa Networks (57%) Online distribution platforms PlayStation Network PlayStation Plus PlayStation Store Sony Pictures Core SonyLIV Crunchyroll mora Great American Pure Flix (joint venture with Great American Media) Former/Defunct Sony Entertainment Network Sony Connect PlayNow PlayStation Now PlayStation Video PlayStation Vue Anime Digital Network Anime on Demand AnimeLab Crackle Minisodes Funimation PressPlay VRV Wakanim Other businesses Sony DADC Sony Network Communications Sony Professional Solutions Sony Honda Mobility (50%) M3 (39.4%) Vaio (4.9%) Other assets Sony Corporation of America (umbrella company in the US) Other subsidiaries List of acquisitions List of libraries Nonprofit organizations Sony Institute of Higher Education Shohoku College Other Sony Toshiba IBM Center of Competence for the Cell Processor Sony timer Sony Technology Center Sony Technology Center-Pittsburgh

Authority control databases International VIAF National Japan

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Adapted from the Wikipedia article [Sony Bank](https://en.wikipedia.org/wiki/Sony_Bank) by Wikipedia contributors ([contributor history](https://en.wikipedia.org/wiki/Sony_Bank?action=history)). Available under [Creative Commons Attribution-ShareAlike 4.0 International](https://creativecommons.org/licenses/by-sa/4.0/). Changes may have been made.