NTT Docomo completed the acquisition of SBI Sumishin Net Bank for $2.9bn.

NTT Docomo, a company specializing in mobile telecommunications, completed the acquisition of SBI Sumishin Net Bank, a company focused on internet banking services, from SBI, a financial services company, for JPY420bn ($2.9bn). "By welcoming SBI Sumishin Net Bank into the Docomo Group, Docomo will make a full-scale entry into the banking industry and aim to further enhance the corporate value of SBI Sumishin Net Bank by combining Docomo's diverse channels, such as its membership base and Docomo Shops, with Sumitomo Mitsui Trust Bank's banking management and advanced trust service know-how," NTT Docomo statement.