Lawson Bank Launches Operations

Economy

Tokyo, Oct. 15 (Jiji Press)--Lawson Bank, a unit of major Japanese convenience store operator Lawson Inc. <2651>, launched its services on Monday, trying to catch up with peers affiliated with rival retailers.

Lawson Bank accepts account-opening applications from customers through smartphone apps or other means. It obtained a banking business license in August.

The new bank needs to offer unique and original services to lure clients and better compete with Seven Bank <8410>, affiliated with Seven & i Holdings Co. <3382>, and Aeon Bank, a unit of Aeon Co. <8267>, analysts said.

"We want to be a bank closest to customers," Lawson Bank President Masashi Yamashita has said.

As a campaign event to mark its launch, Lawson Bank is providing customers using its automated teller machines installed at Lawson stores with discount coupons for "Karaage-kun" chicken nuggets, a popular item of the convenience store chain.

[Copyright The Jiji Press, Ltd.]

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