NTT Docomo announced that it will make Orix Credit, a subsidiary of Orix, a major financial services company, a subsidiary.
As the competition to capture the so-called ``economic zone'' among major mobile phone companies intensifies, we plan to strengthen our financial services business, including unsecured loans for individuals.
According to the announcement, NTT Docomo will acquire 66% of Orix Credit, a subsidiary of Orix, and will make it a subsidiary later this month.
Orix Credit is involved in businesses such as personal loans and home loans, while DoCoMo plans to strengthen its financial services business, including the unsecured loan business for individuals using smartphone apps, which will begin in 2022.
Toshihiro Eto, general manager of NTT Docomo Smart Life Company, said at a press conference, ``We aim to increase the use of financial services in new fields such as investments, loans, and insurance.''
Among the major mobile phone companies, KDDI and Rakuten offer various financial services such as banking, securities, and insurance within their group.
Under these circumstances, Docomo is rushing to strengthen its financial business, including making Monex Securities a subsidiary in January, and the competition to capture what is called an ``economic zone'' is intensifying.