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November 11, 2009 // 9:16 pm - The 'father' of Sony's PlayStation Ken Kutaragi has announced the launch of a new Cyber company today, with the business based in Tokyo.

The firm works in Internet services, however, it is not yet detailed how it may overlap into the videogame industry.

To quote: "The former chairman and CEO of Sony Computer Entertainment, Ken Kutaragi, has established a new company in Tokyo.

A report from Japanese news group Nikkei, brought to attention in a Kotaku report, claims that the new company is called 'Cyber AI Entertainment'.

Kutaragi, widely known as the 'father of PlayStation', has a purported 90 per cent stake in the new firm. Reports also indicate that Cyber AI Entertainment has raised 20 million Yen in capital.

The start-up firm will work in the field of internet services, though it is currently unclear exactly how the business will operate and if it will overlap with the game industry."

PlayStation Father Ken Kutaragi Launches New Internet Business

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