Printer Friendly

NTT Data, Seibu to seek to boost goods sales with IT.

TOKYO, July 9 Kyodo

(EDS: UPDATING WITH TWO COMPANIES' ANNOUNCEMENT)

NTT Data Corp. and Seibu Department Stores Ltd. jointly said Monday they have agreed to form capital and operational ties to bolster Seibu's sales to individual and corporate customers on the strength of NTT Data's information technology.

NTT Data, the system integration unit of Nippon Telegraph and Telephone Corp., and the major department store chain operator said they will seek to cash in on synergies stemming from NTT Data's Internet and information technology and Seibu's large network of retail outlets and customer base.

The duo will seek to capitalize on their business resources in offering interactive Web services to both individual investors and large institutional customers like companies, they said.

''We will offer highly convenient interactive services to the customers of Seibu on the strength of the Internet,'' the duo said in a press statement.

To cement their ties, NTT Data will acquire for 2 billion yen an equity stake of 1.26% in Seibu, they added.

The alliance will mark the full-fledged entry into the distribution market by NTT Data, which had been mainly engaged in development of information systems for the government and customers in the financial sector.

Seibu hopes the envisioned alliance will help it improve operational efficiency to cut interest-bearing debts, which totaled 350 billion yen as of February this year, Seibu officials said.

The company also wants to take the lead among department store operators in the information technology area, they said.
COPYRIGHT 2001 Kyodo News International, Inc.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2001 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Comment:NTT Data, Seibu to seek to boost goods sales with IT.
Publication:NTT Topics
Geographic Code:9JAPA
Date:Jul 16, 2001
Words:247
Previous Article:Mobile phone subscriptions rise 1% to 69.16 mil.
Next Article:NTT DoCoMo reorganizes U.S. units.
Topics:

Terms of use | Privacy policy | Copyright © 2021 Farlex, Inc. | Feedback | For webmasters |