Experian, the global information services company, announces that it has created a joint venture with Central Communication Bureau (CCB), a leading consumer credit bureau in Japan. Experian will own 50% of the joint venture.
Based in Tokyo, CCB provides credit reporting services to the banking, credit card and consumer financing industries in Japan. Experian has a long association with CCB, having owned a 3.6% stake in the company for many years.
The joint venture, CBEX Solutions, will develop and operate a credit bureau platform to meet the new regulatory requirements in Japan.
As at May 2008, gross assets for CBEX Solutions are approximately $14m.