Sony said on July 28, 2011 that the company is planning to offer online banking services in Australia, according to the Japan Today. Sony's online banking unit, Sony Bank, projects to open an office in Sydney in late August 2011. It is reported that Australian government has permitted Sony Bank to set up an office there. After the office is founded, Sony is expected to begin a feasibility study, and if the results are positive, Sony schedules to launch the online banking services as soon as next fiscal year. Sony aims to expand its earnings base through foraying into overseas markets, Asia in particular, according to the same source.