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Experian in Japanese joint venture

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Date: Tuesday 13 May 2008

LONDON (ShareCast) - Credit checking firm Experian has created a joint venture company with a Japanese consumer credit bureau.

Experian and Tokyo-based Central Communications Bureau (CCB) will each have a 50% share in CBEX Solutions, a company created to develop and operate a credit bureau platform to meet the new regulatory requirements in Japan.

The gross assets of the new company are in the region of $14m.

Experian has had a long association with CCB, having held a 3.6% stake in the company for many years. CCB provides credit reporting services to the banking, credit card and consumer financing industries in Japan.

Last month Experian reported revenue growth in EMEA/Asia Pacific of 12% at constant exchange rates, with organic growth of 6%.

The company said at the time that although it would remain on the look-out for suitable acquisitions, “going forward we don't see as much acquisitions in the pipeline as in the last year.”

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