September 7, 2000
The Sakura Bank, Limited
Completion of "Preliminary Judgement of Banking License "
for “ The Japan Net Bank, Limited”
The Sakura Bank, Limited (Akishige Okada, President) announced that "Preliminary Judgement for Banking License" of “ The Japan Net Bank, Limited” , for which Sakura Bank submitted its preliminary application on June 1, was completed by Financial Reconstruction Commission based on Bank Law.
Based on this completion, Sakura Bank will establish “ The Japan Net Bank, Limited” , Japan's first Internet / Online specialized bank, within a few weeks with the following companies. After the establishment, “ The Japan Net Bank, Limited” will receive the banking license based on Bank Law and start business in October.
The schedule from now on and the outlines of “ The Japan Net Bank, Limited” are as follows;
1. Schedule
| (1) Establishment |
September 19, 2000 (plan) |
| (2) Start of Business |
October 2000
(just after receiving the banking license) |
2. Outlines of “ The Japan Net Bank, Limited”
| (1) Name of Company |
Kabushiki Kaisha Japan Net Ginko
(English Name: The Japan Net Bank, Limited) |
| (2) Head Office |
1-1, Nishi-shinjuku 2-chome, Shinjuku-ku, Tokyo
(6th Floor of Shinjuku Mitsui Building) |
| (3) Capital |
\20 billion |
| (4) Shareholders (plan) |
Sakura Bank 50%
Sumitomo Bank 10%
Fujitsu 10%
Nippon Life Insurance 10%
Tokyo Electric Power 5%
Mitsui & Co. 5%
NTT DoCoMo 5%
NTT East 5% |
| (5) Management |
will be transferred from Sakura Bank (TBA) |
| (6) Employees |
around 50 as full-time employees and around 50 for customer center staff |
(7) ATM Network
(at the start of business) |
Sakura Bank approx.1,000 location (about 4,500 ATM)
am/pm (@BΛNK) approx. 1,000 stores (about 1,000 ATM) |
| (8) Products / Services |
Current deposit, Term deposit, Money transfer,
Small-size consumer loan etc. |
| (9) Access Channels |
Internet, Dial-up, Mail order, Telephone, ATM
(real channel = Head Office only) |
| (10) Business Target |
number of accounts = 1 million
deposit balance = \1 trillion |
Copyright(C)2000 THE SAKURA BANK, LIMITED |