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Business

Mitsubishi Estate, Dentsu to open fintech center in central Tokyo

TOKYO -- Mitsubishi Estate and advertising agency Dentsu are teaming up to launch a co-working space for financial technology companies in the Otemachi-Marunouchi business district here.

     The area hosts the headquarters of Japan's three megabanks, as well as branches of brokerages and foreign-affiliated financial institutions.

     Fino Lab will open Feb. 1 on a floor in one of the real estate company's buildings, providing individual offices and shared space to host 80 people.

     Monthly rent will likely come to around 40,000 yen ($337) a user -- cheaper than office space in the pricey neighborhood.

     Several tenants have signed up, including Liquid, a biometric authentication technology startup.

     Tenants will have access to advice from financial, legal and accounting professionals. Events designed to promote interaction with financial institutions in the area will be held on a regular basis. Tenants will also get support for overseas expansion.

     Mitsubishi Estate and Dentsu are partnering with Information Services International-Dentsu, which has hosted financial technology events.

(Nikkei)

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