Promise Forms Business Alliance with livedoor to Start Internet Shopping Mall Business

Promise Co., Ltd. will establish a company for the purpose of starting an Internet shopping mall business. Promise has entered into a business alliance with livedoor, Co., Ltd. to receive assistance involving the launch and operation of the new company's Internet shopping mall. Through this alliance, the new company will have full access to livedoor's systems and know-how involving its Internet shopping mall (livedoor Department Store).
  In addition, there is a need at Internet shopping malls for financing for the settlement of purchases by customers and other transactions. Most of these needs are for short-term financing in small amounts. Currently, shoppers pay for Internet mall purchases primarily by using credit cards, paying cash on delivery and paying at convenience stores. This new company will incorporate a system for meeting this need for financing to process payments, enabling the Promise Group to offer a financial service that is extremely convenient for its customers.
  Currently, Promise is using alliances with companies in other industries to develop a number of business models. The objective is to target directly financing needs associated with a broad spectrum of consumers' activities, thus serving an even more diverse range of customer segments. The launch of this Internet shopping mall business is one component of this business model creation process.