OREANDA-NEWS. April 23, 2012.NTT DATA Corporation will take the third-party allocation of new shares issued by Shanghai Tonglian Financial Service Co.,Ltd.(Chairman:Wan Jianhua; Head office:Shanghai, China; hereinafter referred to as "TFS"). TFS is offering IT service for local financial institutions in China as one of affiliates of Tonglian Payment Network Service Co., Ltd. (hereinafter referred to as TPNS ) which is the account settlement services provider in China. NTT DATA and TFS reached at this agreement at the end of March, 2012. After TFS will have its capital increased, NTT DATA will be one of eleven shareholders of TFS and the share of NTT DATA to TFS will account for around 12% in total.

Through this tie-up, NTT DATA aims at combining TFS's marketing capabilities in China with NTT DATA's expertises in Japan in terms of the system development and its operation such as the core banking services using shared data center, the payment solutions, and other solutions NTT DATA has offered so far on behalf of the financial institutions in Japan and China. This business tie-up is expected to expand and accelerate more China business, IT cloud service and business solution service, targeting at the local financial institutions in Chinese marketplace.