Blackstone has officially announced that its Private Equity funds will acquire a controlling interest in Sony Payment Services Inc. (SPSV), a prominent payment service provider in Japan, from Sony Bank, a subsidiary of Sony Group. Under this agreement, Sony Bank will retain a portion of its ownership while supporting SPSV's growth as a minority investor. This investment marks Blackstone's inaugural foray into Japan's financial technology sector. Sony Group initiated its payment service operations in 1995, eventually establishing SPSV as an independent entity in 2006. Presently, SPSV stands as one of Japan's foremost payment service providers, furnishing rapid and secure payment processing solutions for both individual customers and businesses in the online sphere.
Steve Schwarzman, Chairman, Chief Executive Officer & Co-Founder of Blackstone, expressed, “Our relationship with Sony has endured over the years, stretching back to the inception of Blackstone almost four decades ago. Initially, as a boutique M&A firm, Sony stood as one of our earliest clients. We are honored to collaborate once again with such a prominent corporation in Japan, further solidifying our presence in a vital market for Blackstone. Over time, we have built strong relationships in Japan, rooted in trust and mutual success”.
Atsuhiko Sakamoto, Head of Private Equity at Blackstone Japan, conveyed, “We are excited about our investment in SPSV, a leading payment service provider in Japan and an established player in the financial technology sector. This move allows us to expand our portfolio in Japan's thriving sectors with robust long-term growth potential. The global trend toward digitization, including in Japan, is evident, and SPSV is strategically positioned to leverage its advanced technology and extensive customer base. Our dedication lies in leveraging our operational and technological expertise to bolster SPSV's expansion”.