Japan Airlines Corporation
Mitsubishi UFJ Financial Group, Inc.
The Bank of Tokyo-Mitsubishi UFJ, Ltd.
JAL International & Bank of Tokyo-Mitsubishi UFJ Agreement
on JALCARD Share Transfer & Business Partnership
Tokyo May 2, 2008: Japan Airlines International (JALI), a subsidiary of the JAL Corporation, and the Bank of
Tokyo-Mitsubishi UFJ, Ltd (BTMU), a subsidiary of Mitsubishi UFJ Financial Group, Inc (MUFG), have reached an
agreement on the transfer of 49.375% of the shares of JALCARD Inc., to BTMU.
Also as part of the agreement, JAL International, JALCARD, BTMU, Mitsubishi UFJ NICOS Co. Ltd, and JCB Co.
Ltd (JCB) have agreed on a business partnership relating to the credit card business.
Against the backdrop of an expansion in the utilization and availability of credit cards, diversification of related
awards and services, and advancements in related technology, the credit card market continues to expand both in the
number of cards issued and card shopping sales income, and is expected to continue growing.
On the other hand, competition is becoming fierce due to retail, service, and other businesses entering the credit card
market, and the advent of mergers and acquisitions. It is of urgent necessity that customer convenience is increased
by improving services, conditions for use and expanding channels, and by developing and strengthening products,
services, systems, channels in order to gain customer support.
Based on these business conditions and changes, the JAL Group and MUFG have agreed on a strategic business and
capital alliance with regard to JALCARD’s business.
Established in 1984, JALCARD, a 100% owned subsidiary of JAL International, offers a frequent flyer program card
with a credit function to over 2.03 million cardholders (as of March 31, 2008). The average amount used per
customer is markedly high in the industry.
Mitsubishi UFJ NICOS, the biggest card company in Japan and the core card company of MUFG, and JCB, Japan’s