SBI Holdings and FPT Form Exclusive Investment Alliance



    TOKYO, June 27 /CNW/ - SBI Holdings, Inc. (TOKYO:8473) and the
Corporation for Financing and Promoting Technology (FPT), Vietnam's largest
information technology group, today announced their plans to form an exclusive
investment alliance targeting Vietnam's fast-growing economy. The equity
alliance makes good on the promises of both Japan and Vietnam's Prime
Ministers to strengthen economic and cultural ties between their two
countries.

    The first fund planned under the new joint stock fund management company,
FPT Capital, will take part in the equitisation process of large State-owned
enterprises (SOEs), especially those dealing with finance and banking, as well
as incubate emerging sectors such as Life Sciences, Information Technology and
Internet Services. Vietnam's Ministry of Post and Telematics recently
announced the country had climbed up into the global Top Twenty list of
nations with the highest Internet penetration, a development that could help
clear the way for more electronic businesses. At the same time, the National
Steering Committee for Enterprise Renovation and Development (NSCRD) reports
that up to 713 SOEs have been earmarked for equitisation in the coming years;
a process the government is taking steps to accelerate.

    SBI Holdings' CEO, Yoshitaka Kitao, embraced his firm's entree into South
East Asia together alongside FPT. "We have taken the time to get to know FPT
intimately and believe they represent the New Vietnam, a forward-thinking
company and progressive leadership for us to partner with and tap into this
rich nation's thoroughbred investment opportunities. Our fund with FPT is only
a first step in a well-planned strategy to invest in and groom quality
businesses and, wherever possible, create pathways into Japanese markets. Ours
is a comprehensive Vietnam strategy and we are pleased to join ranks with FPT
Group."

    FPT's CEO, Truong Gia Binh, hailed the announcement with SBI. "We have
chosen to partner with one Asia's most skilled and successful venture capital
groups. SBI Holdings' DNA and record of growth closely follows our own. But
more than just capital, FPT will benefit from SBI's know-how in fund
management, financial services, IT investing and provide us with a direct link
to Japan's capital markets. We see in them a like-minded long-term partner
dedicated to working with us to revolutionize and improve the lives of every
day Vietnamese citizens. Given the success of FPT in software outsourcing to
Japan, we do believe that the new initiative of partnering with SBI Holdings
in fund management will further realise our globalisation aims."

    About FPT Corp.

    FPT is Vietnam's largest information and communication technology
company. FPT is the Vietnamese market leader in mobile distribution, systems
integration, software outsourcing and development, telecom, Internet and
e-media content, and computer assembly. International technology partners
include IBM, Oracle, Microsoft, Cisco System, and Intel. FPT is also a leader
in technological training having enrolled 28,000 since 1999 in its tech
academies throughout the country. Established in 1988, FPT employs the largest
number of informatics engineers and specialists in the country. The company
has about 8,000 employees. Visit http://www.fpt.com.vn for more detailed
information.

    About SBI Holdings, Inc.

    SBI Holdings (TOKYO:8473) is the recently spun-out, separately-traded
former investment arm of Softbank Corporation (formerly-known as SOFTBANK
INVESTMENT). Today, SBIH's operations cover three broad business areas: (1)
Asset Management including Venture Capital; (2) Brokerage and Investment
Banking; and (3) Internet-Enabled Financial Services. In addition to managing
a family of venture capital funds, many of the firm's 70 companies have taken
leadership positions in various consumer-oriented online financial services
such as equities and commodities brokering, home equity loans, and insurance
comparison. Internationally, the firm has recently formed international joint
partnerships with Goldman Sachs and groups controlled by Singapore's Temasek
Holdings and The State Bank of India. SBI also plans to launch Japan's first
full-service Internet bank sometime this year, in concert with Sumitomo Trust
& Banking, as well as a new life insurance business with AXA Japan and a
non-life insurance company with Aioi Insurance Co. SBI's corporate website:
www.sbigroup.co.jp




For further information:

For further information: SBI Holdings Mr. Rahul Desai, (81) 3 6229 0134
General Manager (Corporate Development & Strategy) Ms. Miho Uratani, (81) 3
6229 0126 Corporate Communications muratani@sbigroup.co.jp or FPT Corp Mr.
Dang Luu Dung, (84) 9 0418 6392 Senior Advisor to Chairman Mr. Dao Kien Trung,
(84) 9 2225 0982 Senior Legal Counsel

Organization Profile

SBI HOLDINGS

More on this organization


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890