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To: Spytrdr who wrote (11079)	1/27/2000 12:09:00 AM
From: Spytrdr	Respond to of 13953

FOCUS-Softbank unveils online banking alliance TOKYO, Jan 27 (Reuters) - Internet investor Softbank Corp said on Thursday it would set up an online bank branch with a leading Japanese bank, extending its reach deeper into the nation's budding online finance business. Softbank's Chief Financial Officer Yoshitaka Kitao said in a speech that Softbank and Suruga Bank Ltd , based in Shizuoka, central Japan, had agreed to set up an online bank branch this year. By forming an alliance with Suruga, known as an active online banking player, Tokyo-based Softbank gains much-needed expertise in a market expected to grow rapidly in tandem with an expansion in Japan's Internet population. The move reflects Softbank's stated plan to build itself into an online financial conglomerate by moving into banking in addition to its existing online financial joint ventures in consumer finance, insurance and securities trading. Softbank, known for its investments in more than 150 Web-related companies worldwide, aims to launch banking operations over the Web either in cooperation with existing banks or by acquiring a conventional lender. A Suruga Bank spokesman confirmed the agreement but added that details of the online banking branch will be decided later.