Sony mulls online trading

Company in talks with Schwab to partner on site

TOKYO — Sony Corp. said Tuesday it is considering an Internet trading tie-up with discount brokerage Charles Schwab Corp. The two firms would form a joint venture that would target individual Japanese investors.

Sony said the plan is in the development stages and nothing has been formally decided about whether to participate in online trading.

According to reports in the Japanese media, the firm would be formed by the end of the year, and it would allow Japanese investors to tap into stock and unit trust trading on a 24-hour basis via their personal computers.

If Sony makes the jump into stock trading, it would mark its first foray into the world of brokerages for the electronics giant. The company already has an insurance company operating within its group.

The move could be lucrative for Sony, investment industry insiders said. Japanese households have enormous amounts of money put away in savings accounts that bear virtually no interests. An easy way to access the booming stock markets in the United States could become an attractive investment option for them.

Want to read more articles like this one? SUBSCRIBE TO VARIETY TODAY.
Post A Comment 0

Leave a Reply

No Comments

Comments are moderated. They may be edited for clarity and reprinting in whole or in part in Variety publications.

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More Digital News from Variety

Loading