KDDI and Mitsubishi-Tokyo UFJ Bank Formalize Mobile Internet Banking Business

JCN Newswires, April 28, 2007

Tokyo, Japan, Apr 27, 2007 - (JCN Newswire) - KDDI Corporation and Mitsubishi-Tokyo-UFJ Bank jointly established the Mobile Net Bank Development Corporation in May, 2006 in preparation for the two companies to launch a mobile 'New Bank'. The Development Corporation has since been formalizing the business plan, finalizing products and services, and building the required core systems for the New Bank. Subject to approval from the appropriate authorities, KDDI, Mitsubishi-Tokyo-UFJ, and the Development Corporation have now agreed on the line-up of products and services and the commercial time frame for the New Bank, which is scheduled to open midway through this financial year.

The New Bank (Shinginko in Japanese, meaning 'New Bank'), will offer a full line-up of financial services oriented to individual consumers, capitalizing on the strengths of the mobile phone as only a mobile carrier could do, and providing a high level of convenience and usability beyond what customers have experienced thus far. In as much, the New Bank will introduce a new era of personal consumer finance.

More specifically, the New Bank will meet a wide range of individual customer needs by offering yen savings accounts, foreign currency accounts, stocks and investment funds (as broker), insurance (as distributor), card loans, credit cards, bank transfers, various settlement services, e-Money charging and other services.

The New Bank will also offer services only possible through a mobile phone, such as making bank transfers to parties selected from users address books, logging-in directly from the main phone screen, and checking trading history on the phone screen.

In order to ensure the safe and secure operations of all systems, products and services will roll out in several stages after business starts, with full notification and support offered customers as each product and service is introduced.

About KDDI Corporation

KDDI (TSE: 9433; US: KDDIF) is the only Japanese information and communication company that comprehensively provides all communications service, from fixed to mobile. KDDI is aggressively working towards realization of the coming Ubiquitous Network Society through its ability to develop leading-edge fixed and mobile communications networks and services to support them and through the ability to carry out technical R&D at a level unsurpassed anywhere. The 73 KDDI group companies have more than 8,300 staff and turnover of 3,335 billion yen through March 2007. For more information, please visit http://www.kddi.com.

Source: KDDI Corporation

Contact:

Noriko Seki
Japan Corporate news, for
KDDI Corporation
Email: noriko.seki@japancorp.net

Copyright [c] 2007 JCN Newswire. All rights reserved. A division of Japan Corporate News Network K.K.