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Tokyo and Hong Kong, July 15 2004 - JCB,
a major international payment brand, is
pleased to announce that JCB International
Co., Ltd. has signed a license agreement
with AEON Credit Service (Asia), the leading
non-bank credit card company in Hong Kong.
AEON Credit Service (Asia) is a subsidiary
of Japan's AEON Credit Service Co., Ltd.
and a member of the AEON Group. AEON will
begin issuing the AEON/JCB Travel Card
today.
The new AEON/JCB Travel Card makes the
most of the two companies' ties to Japan
by giving cardmembers special offers at
merchants in Japan, exclusive low-price
tours to Japan. The card design itself
features a kabuki motif, one of Japan's
traditional performing arts. The card's
unique Japan-focused features are added
benefits to global acceptance of the JCB
brand, access to JCB Plaza customer service
centers in 31 popular destinations around
the world and the wide variety of other
value-added benefits available to all JCB
cardmembers.
"Hong Kong has been a major target
market since JCB started business. And
as of last year, Hong Kong ranked fifth
in the number of tourists to Japan, although
it had suffered some decline after the
outbreak of SARS. And now the fact that
a visa for entry into Japan is no longer
required means we will see a lot more travelers
from Hong Kong, so that specialized services
focusing on Japan will be appreciated more," said
Mr. Hiroshi Takahashi, Managing Director
of JCB International (Asia) Limited. "We
think that now is the time to respond actively
to this trend, and the AEON/JCB Travel
Card is a strategy to not only grab the
attention of Hong Kong residents who are
already in the habit of coming to Japan,
but also to encourage new interest in Japan."
The AEON/JCB Travel Card will be advertised
aggressively in newspapers and magazines,
on the subway system and buses, and through
various other channels to reach the target
market of approximately 3,400,000 in Hong
Kong. AEON and JCB anticipate that more
than 10,000 cards will be issued in the
first year alone. In addition, the JCB
brand will become even more widely accepted
in the region from November when the Bank
of East Asia joins the network of JCB acquiring
partners in Hong Kong, making the AEON/JCB
Card that much more widely accepted for
local use by cardmembers as well.
AEON Credit Service (Asia) is the third
major card issuer to receive a license
for issuing the JCB Card in Hong Kong,
following HSBC and Hang Seng Bank. JCB
began expanding globally as an international
credit card brand by opening its first
overseas subsidiary in Hong Kong in 1981,
and the first JCB Card issuing program
outside Japan was launched in partnership
with HSBC four years later in 1985. The
new agreement with AEON Credit Service
(Asia) confirms JCB's long-standing commitment
to Hong Kong.
About AEON Credit Service (Asia) Co.,
Ltd.
AEON Credit Service (Asia) Co., Ltd. (the "Company")
is a subsidiary of AEON Credit Service
Co., Ltd. ("AEON Credit Japan")
and a member of the AEON Group. AEON Credit
Japan is one of the leading consumer finance
services companies in Japan and is listed
on the first section of the Tokyo Stock
Exchange. The Company's history in Hong
Kong began in November 1987, when AEON
Credit Japan set up its branch office in
the territory. The Company initially provided
hire purchase services particularly for
household merchandise and other consumer
products. In 1988, the Company introduced
vehicle financing services and expanded
its services to personal loans in October
1990. In 1993, AEON became the first non-bank
in Hong Kong to issue credit cards and
currently has about 720,000 cardmembers,
the leader in the non-bank segment. The
Company is a public limited company listed
on the Main Board of The Stock Exchange
of Hong Kong Limited. For
more information, please visit at: www.aeon.com.hk/web/frame/new.htm.
About JCB Co., Ltd.
JCB is an international credit card brand
and the largest card issuer and acquirer
in Japan. JCB launched its card business
in Japan in 1961 and began expanding
overseas in 1981. Its merchant network
includes 11.7 million merchants and spans
189 countries and territories. JCB cards
are now issued in 18 countries and territories,
with 51.6 million cardmembers. As part
of its international growth strategy,
JCB has formed alliances with more than
320 leading banks and financial institutions
globally to increase merchant coverage
and cardmember base.
JCB's corporate philosophy of "Service
from the heart", a commitment to responsive
and high-quality service, continues to
guide it as it creates the future together
with its customers, merchants and partners.
For further information, please visit the
JCB Co. Ltd. home page at:
www.jcb-global.com/english or www.jcbinternational.com.
History of JCB in Hong Kong:
1981 JCB International
(Asia) Ltd. established
1985 Acquiring and issuing
license granted to HSBC
1994 JCB Card issuing
program, JCB International (Asia) Ltd.
1998 Acquiring license
granted to Hang Seng Bank
2003 Acquiring license
granted to Bank of East Asia
2004 JCB Card issuing
program, Hang Seng Bank
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