EXCLUSIVE: NTT Docomo Plans to Enter Banking Biz This Year

Tokyo, July 5 (Jiji Press)--Japanese mobile phone carrier NTT Docomo Inc. aims to enter the banking business by year-end, with the aim of expanding the reach of its "d Point" reward program, new President Yoshiaki Maeda has said.
 

In a recent interview with Jiji Press, Maeda said the company aims to make up for its lost time over financial businesses by starting banking operations through corporate acquisitions and tie-ups with banks.
 

NTT Docomo has put online brokerage house Monex Inc. and Orix Credit Corp. under its wing this year.
 

Maeda emphasized the importance of linking bank accounts of consumers with the NTT Docomo group's services. Without such links, consumers will not choose the group's "economic bloc" of affiliated services where the d Point program plays the central role, he said.
 

NTT Docomo's rival companies--KDDI Corp., SoftBank Corp. and Rakuten Group Inc.--have their own point-centered economic blocs with affiliated banks and brokerage companies.
 

NTT Docomo has acquired Monex, but MUFG Bank is the only bank with which the company has joined hands.
 

NTT Docomo has invested 30 billion yen to improve its flagship mobile business after being criticized for deterioration in its wireless communications quality in urban areas. Maeda checked progress in the group's work to improve the situation aboard a train that went around East Japan Railway Co.'s Yamanote loop line in Tokyo. He recognized some progress but said "things aren't perfect yet," showing his determination to do more.
END