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NEC Corp.
The Japan Research Institute, Ltd.
Sumitomo Mitsui Banking Corp.
Joint-Venture Firm Established to Develop Mission-Critical Business Software for Banks

March 18, 2004

NEC Corp. (Minato-ku, Tokyo; President: Akinobu Kanasugi), The Japan Research Institute, Ltd. (Chiyoda-ku, Tokyo; President: Shunichi Okuyama) and Sumitomo Mitsui Banking Corp. (Chiyoda-ku, Tokyo; President: Yoshifumi Nishikawa) have established today a joint-venture firm that shall develop mission-critical business software for banking institutions, thereby increasing productivity of banking operations.
The details of the joint-venture firm are as follows:

1.Trade name :N&J Financial Solutions
2.Date of establishment :March 18, 2004
3.Location of head office :Shinagawa-ku, Tokyo
4.Representatives :Shinichi Yabe, President; Yasuhiro Taga, Vice President
5.Capital :¥100 million
6.Investment ratio :NEC 51%, JRI 44%, Sumitomo Mitsui Banking Corp 5%
7.Number of employees :Approximately 330
The establishment of the joint-venture firm is part of the "Alliance of IT Business for Regional Financial Institutions" agreed to by the three parties in September of last year. In the future, the joint-venture firm will carry out various projects, including the development of BankingWeb 21, which is NEC's mission-critical business software for regional financial institutions, and systems integration for individual banks; the development of mission-critical business software; banking systems planning, consultation and sales promotion for Sumitomo Mitsui; and application of the mission-critical business software for Sumitomo Mitsui to regional financial institutions as well as support of such application.

For more information on the content of this report, please contact
Jyochi and Naraki, Corporate Communications Department., NEC 03(3798)6511
Sato, Public Affairs Department., JRI 03(3288)5360
Furudate, Public Relations Department., Sumitomo Mitsui 03(5512)2678
Inaoka, Business Promotion Department., N&J 03(5746)3222

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