BRIEF OBJECTS
BRIEF OBJECTS
UFJ OUTSOURCES IT TO HITACHI
Tokyo-based UFJ Bank, the Japanese bank formed at the start of this year by the merger of Sanwa Bank and Tokai Bank, is to outsource IT development and management for its Japan-based branches in a Y250 million ($2.1 billion) deal with technology company Hitachi. UFJ will sell 49 percent of its IT subsidiary Sanwa System Development to Hitachi, and re-name the subsidiary UFJ Hitachi Systems Co. The new subsidiary will then lease back software services for lending
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