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Japan Net Bank Case Analysis

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01/24/02

Japan Net Bank: Japan 's First Internet-only Bank

Yoshiyuki Miyai had a vision. He wanted to establish a completely new standard of banking in Japan – that of Internet-only banking. As president of Japan Net Bank (JNB), the first
Japanese online bank with no physical branches, Miyai emphasised that customer satisfaction should be the focus of JNB 's business – his customers should enjoy convenient access to accounts, competitive rates, customisation and secure transmission of information over the
Web. To bring out the best services, he saw to it that JNB was run with low operation costs, a flat management structure, flexible computer systems and a small workforce – all drastically
different
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The bank provided commercial and investment banking services, including credit and equity derivatives, loan trading and financial advisory services. As of 1 April, 2001, it had 27 million accounts, 578 domestic branches and approximately 7,600 Automatic Teller Machines (ATMs) in Japan.

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Fujitsu Limited (www.fujitsu.com, 10% stake)

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Computers and information technology accounted for more than two-thirds of sales of Fujitsu
Limited. The company was one of Japan 's top two PC makers and a leading maker of servers, software, storage devices and peripherals such as printers and scanners. Its information technology services included systems installation and management. The company also made communications systems, consumer electronics, semiconductors and electronic components.
Fujitsu reported consolidated revenues of ¥5.48 trillion for the fiscal year ended 31 March,
2001. It consisted of 517 consolidated subsidiaries with operations in more than 100 countries. Its subsidiary, Nifty Corp., was an Internet Service Provider that offered a comprehensive Internet service called @nifty. @nifty 's sites and services included ecommerce portals, forums, auction sites, member homepages and Internet access. As of
January 2001, @nifty had 4.4 million subscribers.
Nippon Life Insurance Co. (Nissay, www.nissay.co.jp, 10% stake)

The world 's third-largest insurance
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