Sony Considering Online Brokerage

Maybe they’ll call it the Trademan.

Sony Corp., the company that brought the world the Walkman stereo, said Tuesday that it is considering a foray into the online stock brokerage business.

The giant consumer electronics maker says it’s in talks with U.S. broker Charles Schwab & Co. and others to enter the online brokerage business in Japan.

“We’re currently considering how to enter the business the Sony way,” said Masayoshi Morimoto, corporate senior vice president at Sony. “No specific plans have been decided.”

Sony’s entry into the industry would come as Asia’s interest in the World Wide Web burgeons and as full liberalization of trading commissions approaches under the deregulation of Japan’s financial sector.

“If true, the combination of Sony, a global brand name, and Schwab, the most successful online broker in the U.S., would be a bigger threat than any of the securities companies that currently offer online stock-trading services in Japan,” said Yoshihiko Kan, manager of the online brokerage division at Nomura Securities Co.

Analysts said they weren’t surprised Sony wants to diversify. The company, which entered the life insurance business in 1981 through its wholly owned subsidiary Sony Life Insurance Co., said in July that it would enter the car insurance business next year.

Schwab said nothing specific has been decided regarding Japan. “Japan is one of a number of countries we’re looking at to expand our future growth opportunities,” said Gloria Lau, president of Charles Schwab, Asia & Americas in Tokyo.

Some Japanese firms already offer or plan to offer online services. Matsui Securities runs Netstock, an Internet trading system, and software publisher Softbank has signed a partnership with the U.S.’ E-Trade Group.