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Tokyo, September 1, 1999 -- Fujitsu Limited and Orient Corporation (also known as Orico), together with five other companies, agreed today to jointly establish a company to provide outsourcing services focusing on credit systems for Japan's retail credit industry. The new company, tentatively named Global Focus Ltd. and scheduled to begin operating in October, will be among the largest outsourcing companies of its kind in Japan. Fujitsu Establishes Outsourcing Joint Venture with Orient Corporation
--to offer retail credit system-related strategic outsourcing services--
Taking particular advantage of Fujitsu's strengths in Internet and other information technologies and its outsourcing operations know-how, while also leveraging Orico's systems resources and credit business expertise along with the special talents of the other joint venture partners, Global Focus will offer credit-related outsourcing services incorporating the most advanced information systems and specialized industry knowledge.
Principal business activities will include:
Orico, as Global Focus's first client, will itself utilize the strategic outsourcing services to cope more flexibly and rapidly with today's more diversified and sophisticated IT demands and thereby strengthen its competitiveness in the dramatically changing credit business industry. Fujitsu, for its part, will make the most of its broad IT expertise and extensive sales network to provide optimal solutions that enable its customers to offer the diversified, high-level card services needed to succeed in the highly competitive credit business.
- Outsourcing of credit and card systems
Based on Orico's system resources and credit systems skills, provide effective outsourcing services to other companies.
- Constructing next-generation credit systems
The company will develop and provide next-generation credit services that aim to become de facto industry standards.
- Offering customers and participating retailers new credit services via the Internet
The company will utilize e-commerce settlement systems, electronic authorization systems and other Internet technology to develop and provide new credit systems.New Company Highlights
* planned
Name: Global Focus Ltd. (tentative) Establishment: September 20, 1999* Operations start-up: October 1, 1999* Location: Sunshine Building 60, Higashi-Ikebukuro 3-1-1, Tokyo* President: TBA Capital: 300 million yen Shareholders: Fujitsu Limited (35.5%), Orient Corporation (14.5%),
Fujitsu FIP Corporation (10%), DKB Information Systems
Inc. (10%), Sakura Information Systems Co., Ltd. (10%),
CRC Research Institute, inc. (10%), Japan Automatic
Development Co., Ltd. (10%)Sales Target: about 2.5 billion yen in FY1999
41 billion yen (accumulated) from FY2000 - 2004Employees: about 140 Fujitsu Limited
Fujitsu Limited (TSE: 6702) is a leading provider of comprehensive information technology and network solutions for the global marketplace. Comprising over 500 group companies and affiliates worldwide -- including ICL, Amdahl and DMR Consulting Group -- the Fujitsu Group had consolidated revenues of 5.24 trillion yen ($43.3 billion) in the fiscal year ended March 31, 1999. With world-class hardware and software technology in computers, telecommunications and microelectronics, and a corps of 55,000 systems and services experts around the world, Fujitsu is uniquely positioned to harness the power of the network to help its customers succeed. Altogether, the Fujitsu Group has 188,000 employees and operations in over 100 countries.
Homepage: http://www.fujitsu.com/About Orient Corporation
Orient Corporation ("Orico" TSE:8585), the largest consumer finance company in Japan, provides auto loans and shopping credit for various goods as its main business, as well as credit cards (the Orico Card) and direct cash loans through a domestic network of 259 branches. Orico is the leading provider of auto loans to individual consumers and commercial customers in Japan, with total assets and auto loan assets of 6,190 billion yen and 1,323 billion yen, respectively, as of March 31, 1999. Recognizing the role of credit cards as the main settlement method for commercial activity over the Internet, Orico places particular emphasis on computer systems development and the introduction of new technolgies for such settlement systems.
Note: Company names mentioned may be trademarks or registered trademarks of their respective holders and are used for identification purpose only.
Press Contacts: Noriko Kikuchi, Bob Pomeroy
Fujitsu Limited, Public Relations
Tel: +81-3-3215-5236 (Tokyo)
Fax: +81-3-3216-9365
Eiji Kakita, Masashi Takenaka
Orient Corporation
tel: +81-3-3989-6522 (Tokyo)
fax: +81-3-3985-3586
E-mail: fvbm0051@mb.infoweb.ne.jp