Sony Corp. applied to the Financial Services Agency on Wednesday for a provisional license to operate an Internet bank it will launch in June.
Sony plans to set up Sony Bank Corp. with capital of 37.5 billion yen and begin operations under a management team comprising seven directors.
The bank, to be initially staffed by some 80 employees, is aiming to have 600,000 accounts in five years with deposits totaling 1 trillion yen.
The leading electronics maker expects the new online banking business to help expand small-lot sales of the group's extensive Internet content, such as music, videos and films.
For its electronic bank, Sony plans to use its Felica cards, which can be used for commerce online and at brick-and-mortar shops.
The cards allow for instant payment simply by holding them over a registered terminal.
Users will be able to transfer funds to card accounts in advance through the Internet as well as via deposits at special terminals in convenience stores and at other locations.