Japan Post has awarded a consortium including Hitachi and NTT Data a Y22 billion contract to supply the IT infrastructure for Yucho Bank, which will be created later this year through the privatisation of the postal company.
According to a Reuters report, Japan Post picked the consortium's bid over a competing Y32.55 billion bid from IBM's Japanense unit.
The winning consortium will deliver a computer platform based on technology originally developed for the former UFJ Bank, says the report.
Japan Post - which runs the world's largest savings bank alongside its postal services - is set to be privatised in October. The company will be divided into four independent entites offering over-the-counter services, postal services, postal savings and postal life insurance. A separate entity will be set up to hold pre-privatisation savings and insurance assets.