Here's a bit of financial news. According to Bloomberg, Sony is gearing up for what could be Japan's biggest initial public offering (IPO) of the year.

Sony will reportedly be selling 725,000 shares or about 34.5 percent of Sony Financial Holdings, the company's Tokyo-based insurance unit. The unit will also offer 75,000 new shares.

The sale is expected to net Sony about 332 billion yen (US$ 2.9 billion). Pricing will be set on October 1, while trading will begin on the Tokyo Stock Exchange on October 11.

Analysts believe that Sony will use the funds it acquires to beef up the production of its Bravia TVs as well as offset the losses incurred by the PlayStation 3. Analysts have also mentioned that the IPO could lead to good news for gamers, namely another possible PS3 price cut.