Fujitsu Ltd. and Orient Corp. will set up a joint venture later this month to develop a computer system for credit services, top officials of the two firms announced Wednesday.
The new company, to be established Sept. 20 and start operations Oct. 1, is targeted at companies wishing to outsource their credit business, they said.
As potential clients, they cite financial institutions, manufacturers and retailers offering credit services. Orient Corp. itself will become the first client of the new firm.
The new firm will be established with 300 million yen in capital, with Fujitsu putting up 35.5 percent and Orient Corp. 14.5 percent. The remaining 50 percent will be put up by five other firms.
Starting with some 140 staffers, the new firm aims to achieve 10 billion yen in annual sales, they said.
Hisashi Kanai, president of Orient Corp., said the new venture hopes to develop a computer system that sets a de facto standard.
"As the country's credit business industry is facing a time of changes, it is indispensable to speedily and properly adopt information technology to the business," he said. "The partnership with Fujitsu will enable us to utilize Fujitsu's technology and realize low-cost operation over the long term."
Pointing to the prospect of increasing costs of developing new systems, Kanai said he hopes to attract firms hoping to save on investment costs.
Fujitsu, for its part, hopes to expand its customer base through the new venture.
"In several years, designing an information system for a particular firm will become an old concept," said Fujitsu President Naoyuki Akikusa. "We hope that the new business will develop in various fields in the future as we enter the era of networks."