Seven Bank : Notice Regarding Establishment of a Subsidiary (PDF / 307KB)
January 11, 2018 at 12:34 pm IST
Share
January 11, 2018
Notice Regarding Establishment of a Subsidiary
Following the notice dated October 6, 2017, "Notice Regarding Establishment of a Subsidiary", Seven Bank, Ltd. has completed procedures to establish the subsidiary as of January 11, 2018.
1. Purpose of Establishing the Subsidiary
Seven Bank is working to create new services that respond to changes in the business environment, such as the spread of services based on the sharing economy. To further expand the range of its ATM business, Seven Bank decided to establish a subsidiary to conduct remittance and settlement services such as a "cash receipt service."
By continuing to ascertain needs from the customer's point of view and speedily incorporating the results of technological innovations, Seven Bank will work to create new ATM utilization styles that are not bound by conventional concepts.
2. Overview of the Subsidiary
Company Name
Seven Payment Service, Ltd.
Location
1-6-1, Marunouchi, Chiyoda-ku, Tokyo, Japan
Name and Title of Representative
Satoshi Wada, President and Representative Director (Currently Assistant General Manager of Business Promotion Division, Seven Bank, Ltd.)
Business Description
Remittance and settlement services
(assuming approval from the relevant authorities)
Paid-in Capital
150 million yen
Date of Establishment
January 11, 2018
Major Shareholder and Shareholding Ratio
Seven Bank, Ltd. 100％
Fiscal Year End
March 31
3. Outlook
The effect of this matter and the related business on Seven Bank's consolidated business results for the current fiscal year is expected to be immaterial.
(End of Document)
Seven Bank Ltd. published this content on 11 January 2018 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 11 January 2018 07:04:03 UTC.
Original documenthttps://www.sevenbank.co.jp/english/ir/pdf/2018/2018011101.pdf
Public permalinkhttp://www.publicnow.com/view/9646D16AD5651109F80F22A425D7B0BE0B72BF27
Seven Bank Ltd is engaged in the provision of financial services such as automatic teller machine (ATM) service, Internet banking service, and loan service. The Company operates its business through two business segments. Domestic Business segment is involved in the ATM platform business that installs ATMs at stores such as Seven-Eleven and Ito-Yokado, as well as at airports, stations, financial institution stores. The Segment also provides settlement account services including ordinary deposits, time deposits, loan services, overseas money transfer services, debit services, as well as the contract work from other financial institutions. The Overseas Business segment provides ATM services mainly in the United States and Indonesia. The Company also conducts investment advisory business.
SEVEN BANK, LTD. 
