GMO Internet establishes Financial Business Promotion and Management Office

Maria Nikolova

The purpose of the new office is to promote partnership between GMO’s online finance business and the Group’s financial businesses.

Japanese online services provider GMO Internet Inc. (TYO:9449) has announced the establishment of a new department. The company has formed a new Group Financial Business Promotion and Management Office, the purpose of which is to promote partnership between the Internet Finance business and the Group’s financial businesses and services, as well as to enforce a risk management system.

In addition, in an effort to enhance the Group’s financial business, GMO is inviting an external expert who has the knowledge and vast experience in finance and transaction businesses. Takashi Shimahara will be at the helm of Head of Group Financial Business Promotion and Management Office.

GMO Internet has been expanding and reorganizing its business portfolio over the past several months. In September this year, GMO Internet unveiled its plans to sell a part of its stake in its subsidiary GMO Financial Holdings Inc (TYO:7177). As a result of the transaction, GMO Internet will still hold more than 50% of the total number of voting rights of GMO Financial Holdings.

In August this year, GMO Internet announced the establishment of new information security business – GMO Pepabo Guardian. The new business will be headquartered in Fukuoka, the place where GMO Pepabo, another of GMO Internet’s subsidiaries, was established.

The company has explained that the need for such a business has increased over the past years along with the growing development of IoT and AI, as well as the ballooning use of mobile gadgets. All these trends have resulted in the need to provide enhanced information security online. The new business will develop apps for the safe use of Internet, as well as all-in-one solutions for corporate clients.

Talking of changes concerning GMO Internet’s “family” of companies, let’s recall that in July this year, GMO Internet and GMO Financial Holdings unveiled the launch of a new Internet banking business. The new business was launched by GMO Aozora Net Bank, in which GMO Internet, GMO Financial Holdings jointly invest with Aozora Bank.

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