Private equity funds managed by Blackstone are to acquire a majority stake in Sony Payment Services Inc (SPSV), one of Japan’s leading payment service providers, from Sony Bank, a wholly-owned subsidiary of Sony Group.
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Sony Group established its payment service business in 1995, which became a standalone company in 2006. Today, SPSV is one of the top payment service providers in Japan, offering high-speed and secure infrastructure for customers and businesses to process online payments.
Japan is the fourth largest electronic card payment market in the world with a market penetration of 9.1%, representing significant room for growth. SPSV is supported by Japan’s JPY 22.7 trillion e-commerce market and the rapid uptake of cashless payments around the world.
Blackstone’s Private Equity investments in Japan include the acquisition of Alinamin Pharmaceutical (formerly Takeda Consumer Healthcare) in the largest healthcare transaction in the market ever and AYUMI Pharmaceutical.
Source: Private Equity Wire
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