Sony 2006 Annual Report Download - page 40

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38
new investment trust products to its lineup, bringing the total
number of funds it handles to 45 as of the end of March 2006.
Online security was fortified with various functions aimed at
preventing illicit information retrieval through spyware and similar
programs. Sony Bank also capitalized on the convenience of
Internet banking for customers by introducing a podcast voice
messaging service.
As Sony Bank expands its products and services, its financial
indicators are keeping pace. Deposited assets (the total of
deposits and investment trusts) amounted to ¥675.1 billion at
fiscal year-end, up 17%, while loans outstanding climbed 89%,
to ¥239.4 billion. The number of accounts at March 31, 2006,
increased 17%, or about 60 thousand, from the previous fiscal
year-end, to approximately 430 thousand.
Sony Finance International
Sony Finance International, Inc. is involved in credit card,
e-commerce payment processing and leasing operations. The
company issues exclusive eLIO-branded cards, which were created
specifically for Internet shopping and incorporate FeliCa, Sony’s
contactless IC card technology. As of March 31, 2006, the number
of eLIO card members totaled approximately 800,000. Efforts to
increase the number of merchants and affiliated partners and
enhance services are also contributing to growth in the value of
transactions. A simple and secure service, eLIO enables card
members to shop over the Internet by placing their card on an
electronic reading device, thereby removing the need to input credit
card numbers. eLIO cards can be used in a variety of shopping
situations. They are compatible with the Edy prepaid e-money
service operated by bitWallet, Inc. and also function as conventional
VISA® cards. In December 2005, the company expanded its eLIO
card lineup by launching SonyCard Gold, a premium version of My
Sony Card, the official credit card of the Sony Group. In November
2005, the company introduced a service whereby eLIO card
members can exchange points earned for purchases made on
their eLIO cards to Sony Points, which can be redeemed for
exciting rewards throughout the Sony Group.
38
Sony Assurance
Sony Assurance, which is structured on a direct insurance
business model, delivers practical, high-quality services through
direct dialogue with customers via the Internet and telephone
channels. Its main products are automobile insurance as well as
medical and cancer insurance.
During the period under review, Sony Assurance enhanced
customer convenience by upgrading its web site to enable its
clients to complete a variety of procedures online. In May 2005, the
company enhanced its medical and cancer insurance by increasing
its whole-life insurance product selection to two—SURE Basic
and SURE Wide, which offer different levels of coverage—and
providing two daily indemnity options. In the area of medical and
cancer insurance, Sony Assurance also continued to market 10-year
renewable products, enabling it to broaden the choice of coverage
options in response to increasingly diverse customer needs.
Going forward, the company will remain committed to continuous
offerings and improvements of high-quality insurance products and
services through direct dialogue with customers.
As of March 31, 2006, the combined number of automobile and
medical and cancer insurance policies in force exceeded 800
thousand, an increase of approximately 20% from the previous
fiscal year-end.
Sony Bank
As an Internet bank, Sony Bank targets retail customers with a
variety of highly convenient financial products and services. In May
2005, the bank broadened its mortgage loans lineup, introducing
new options with fixed-interest terms of 15 years and beyond. The
bank also added Swiss franc and Hong Kong dollars to its foreign
currency deposit products, enabling it to now offer deposits in
eight currencies. In September 2005, the bank extended the terms
for yen time deposits up to 10 years, increasing the investment
options for consumers, while in December 2005 it launched credit
card services and teamed up with securities firm Monex, Inc., to
offer a securities intermediary service. The bank also added five
“MONEYKit”
Sony Bank’s online banking service site
“SonyCard Gold”