UFJ Holdings Inc. plans to spin off the running of its computer system to a joint venture it will create with Hitachi Ltd. in the fall, UFJ officials said Wednesday.
The venture will operate the UFJ Group's computer system, keeping track of transactions related to deposit-takings and loans, the officials said.
The plan is aimed at helping cut the group's expenses related to information technology, they said.
The group consists of UFJ Bank, which was created Jan. 15 through the integration of Sanwa Bank and Tokai Bank, and UFJ Trust Bank.
Under the plan, Hitachi would acquire a 49 percent stake in Sanwa Systems Development Co., a Tokyo-based unit of UFJ Bank. The venture would run the computer system and develop related computer systems, they said.
The group will contemplate transferring some of its employees who have been in charge of developing computer systems for the group's financial institutions to the envisioned joint venture, they said.
While Japanese banks usually have their own computer-system divisions develop and maintain their computer systems, some have begun to outsource this work in a bid to build up more sophisticated computer systems while limiting costs.