TOKYO -- Regional banks struggling to earn under Japan's ultralow interest rates will jointly develop a data analysis system to help identify higher-yielding medium-risk corporate borrowers.
Seven lenders -- Senshu Ikeda Bank, Gunma Bank, San-in Godo Bank, Shikoku Bank, Chiba Kogyo Bank, Tsukuba Bank and Fukui Bank -- will create a financial technology research company as early as June. Each bank will take a stake of a little over 14% in the venture, which will have 100 million yen ($916,000) in initial capital.
