Osaka, May 1 (Jiji Press)–West Japan Railway Co., or JR West, announced Friday a capital and business tie-up with the Resona Holdings Inc. group to make its first foray into the banking business as early as fiscal 2027 starting next April. The railroad operator plans to acquire a 20 pct stake in Kansai Mirai Bank of the Resona group for 90 billion yen by March next year upon approval by the Financial Services Agency and make the Osaka-based bank an equity-method affiliate. “We are resolved to build a strong relationship,” JR West President Shoji Kurasaka told a joint press conference in the western Japan city. “We will work on offering greater value by combining our respective strength.” The capital and business alliance with JR West is “part of fresh efforts to strengthen our regional strategy,” Resona Holdings President Masahiro Minami said. After obtaining the banking agency business license to act on behalf of Kansai Mirai, JR West will launch Wester Mirai Bank to not only offer settlement services but accept deposits and extend housing loans. END [Copyright The Jiji Press, Ltd.]
JR West Announces Foray into Banking Biz
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