News On Japan

NTT Docomo Moves into Banking Sector

TOKYO, May 29 (News On Japan) - NTT Docomo is set to acquire major online bank Sumishin SBI Net Bank as it prepares to enter the banking sector, marking a significant shift for the mobile carrier as it looks to catch up with rivals in the growing financial services space.

According to sources, Docomo plans to acquire a majority stake in Sumishin SBI Net Bank and make it a subsidiary. A formal resolution is expected to be passed at the company's board meeting on May 29th.

With revenue from telecom services having plateaued, Japan’s major mobile carriers have increasingly moved into financial services, including smartphone payments and reward programs, to create comprehensive customer ecosystems. This so-called “economic zone competition” has intensified in recent years.

While Docomo made its first move into finance by acquiring a securities firm two years ago, it has remained the only major carrier without a bank under its umbrella—a core component in financial service ecosystems. Industry observers have long pointed to this as a strategic weakness.

By bringing a bank with more than 8 million deposit accounts under its group and integrating services such as its smartphone payment platform “d-Barai,” Docomo aims to strengthen its presence in the financial services market and close the gap with competitors.

Sumishin SBI Net Bank was established in September 2007 as a joint venture between Sumitomo Mitsui Trust Bank, one of Japan's leading trust banks, and SBI Holdings, a financial services conglomerate known for its aggressive expansion in online finance. The bank was created to tap into the growing demand for internet-based banking in Japan, offering services that could be accessed entirely online without the need for physical branches. This model allowed the bank to operate at a lower cost than traditional banks while focusing on technological innovation and user convenience. From the outset, Sumishin SBI Net Bank differentiated itself through a wide array of digital banking services, including internet savings and checking accounts, housing loans, and asset management tools, all integrated into an easy-to-use platform that appealed particularly to tech-savvy and cost-conscious consumers.

Over the years, the bank steadily grew its customer base by capitalizing on the broader trend of digital transformation in the financial sector. It became particularly well-known for its competitive interest rates and low fees, which attracted users dissatisfied with traditional banks. In addition, it leveraged SBI Holdings’ broader financial ecosystem—including securities, insurance, and FX trading platforms—to cross-sell financial products and provide a more comprehensive suite of services. The strategic partnership with Sumitomo Mitsui Trust Bank also allowed the online bank to gain trust from conservative Japanese customers, thanks to the traditional bank's long-standing reputation and stability. By combining SBI’s fintech capabilities with Sumitomo Mitsui Trust’s institutional backing, the bank positioned itself as a hybrid model that could offer both innovation and reliability.

As the bank matured, it began investing more in technology-driven financial services, including AI-based lending assessments, online mortgage applications, and partnerships with mobile payment platforms. It also focused on expanding corporate banking and B2B financial infrastructure services, becoming a backend provider for fintech companies and e-commerce platforms. By the mid-2020s, Sumishin SBI Net Bank had become one of the largest and most influential internet banks in Japan, with over 8 million deposit accounts and a reputation for being a pioneer in digital banking. The bank's success reflected the broader shift in consumer behavior toward online and mobile financial services in Japan, a trend accelerated by the COVID-19 pandemic. Its acquisition by NTT Docomo in 2025 marked the beginning of a new phase, as Docomo aimed to integrate the bank into its broader ecosystem of mobile payments and financial services, positioning it at the center of a growing battle among telecom operators to dominate Japan’s “digital economy zones.”

Source: TBS

News On Japan
POPULAR NEWS

Mako Komuro, the eldest daughter of the Akishino family and now living in the United States, has given birth to her first child, the Imperial Household Agency announced on May 30th. The agency stated that the birth was disclosed during a press conference after some media reports surfaced, despite their intention to allow Komuro to live in a quiet environment following her departure from the Imperial family.

Akie Abe, widow of former Prime Minister Shinzo Abe, visited the Kremlin on May 29th and met with Russian President Vladimir Putin. During the meeting, Akie was seen tearfully listening to Putin’s words, reflecting the emotional nature of their exchange. Following the conversation, she was invited to ride in Putin’s official limousine to the Bolshoi Theatre, where the two attended a ballet performance together.

A gas cylinder recovered from the scene of an explosion in Tokyo’s Edogawa Ward bore a stamp indicating it was manufactured in November 1964, according to investigative sources. The blast, which occurred on May 27th at a construction site, injured 10 people.

Every year, the “Salaryman Senryu” competition captures the mood of the times through humorous verse, and this year’s top ten results were announced on May 29th.

Osaka University has announced it will accept up to 100 medical researchers from the United States in response to a policy by the Trump administration that suspended the acceptance of international students at Harvard University.

MEDIA CHANNELS
         

MORE Business NEWS

Toyota Motor announced that its overseas vehicle sales in April reached a record 756,190 units, up 9.7% from the same month last year. The surge was driven in part by last-minute demand in the United States ahead of additional tariffs on imported vehicles proposed by the Trump administration.

Ten months after the release of Japan’s redesigned banknotes, an unusual detail has caught the public’s eye: the letter F on the new bills appears oddly rounded.

NTT Docomo is set to acquire major online bank Sumishin SBI Net Bank as it prepares to enter the banking sector, marking a significant shift for the mobile carrier as it looks to catch up with rivals in the growing financial services space.

Japan’s leading industrial and electronics firms are accelerating efforts to commercialize next-generation batteries, with Toyota, Toshiba, TDK, and China’s CATL unveiling advanced technologies that promise breakthroughs in performance, safety, and supply chain resilience.

Nissan Motor has revealed that it paid a total of 646 million yen in resignation-related compensation to four former executive officers, including former President Uchida.

Former U.S. President Donald Trump is once again accusing Japan of deliberately weakening the yen to boost its exports, claiming the government is guiding the currency downward in a move reminiscent of the 1985 Plaza Accord.

Japan’s net foreign assets hit a record high at the end of last year, but the country has fallen from the top global position for the first time in 34 years, according to data released by the Ministry of Finance.

SoftBank Group Chairman and CEO Masayoshi Son is pursuing the idea of launching a Japan-US joint sovereign wealth fund aimed at investing heavily in American technology and infrastructure.