TOKYO (Reuters) -Sony's ( SONY ) CEO said on Thursday the spin-off of the financial services arm will secure that business its own fundraising capabilities.

"It is significant that, through the spin-off, Sony ( SONY ) (Financial Group) will secure its own fundraising capabilities while continuing to use the Sony brand and collaborate with Sony Group ( SONY )," Sony ( SONY ) CEO Hiroki Totoki said at an investor day.

Sony ( SONY ) plans to distribute just over 80% of its shares to Sony Financial Group, which includes banking and insurance, to shareholders through dividends in kind.

It is the first partial spin-off by a company in Japan with a direct listing - the first in Japan in more than two decades - set for September 29.

The business plans to repurchase shares totaling some 100 billion yen through to March 2027.

Its origins date back to the late 1970s, when Sony ( SONY ) co-founder Akio Morita moved to set up a life insurance business selling to consumers.

In more recent years Sony ( SONY ) sold off struggling hardware operations and focused on entertainment such as the PlayStation games business.

More than 60% of the conglomerate's profit came from its entertainment businesses last year.