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Can't say for sure about Sony or other Japanese companies but the logic for corporate separation is exactly that. By creating a separate company they are offering share holders access to profits without having to protect the interest of other divisions. i.e. There is now no competitive disadvantage for offering new sensor technology to all customers to maximize profit.
The way it's often done is the new company is "floated" to become a publicly traded entity on a stock market. This would (in theory) ensure that the sale price is correct. There will probably be long-term agreements in place to supply Sony with components, to reduce the temptation for competitors to acquire and control the new entity.
