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Tokyo Century acquires 5% stake in Jakarta-based Bank Nationalnobu

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Tokyo Century acquires 5% stake in Jakarta-based Bank Nationalnobu

Japanese company Tokyo Century Corp. invested about US$14 million in Jakarta-based PT Bank Nationalnobu Tbk, acquiring a stake of about 5% in the bank.

The acquisition of shares is meant to enhance Tokyo Century's strategic partnership with Indonesian conglomerate Lippo Group, where Bank Nationalnobu is a member. Under the partnership, Tokyo Century and Lippo Group will collaborate on a number of businesses, mostly on digital and financial technology. The Tokyo-based firm has invested about $133 million in the group's business-to-business e-commerce operations and electronic money services.