Souring ATM Deal In Japan Leads To Lawsuit Threat

Published October 20, 2008, 1:00 a.m. EDT

Updated October 20, 2008, 12:00 a.m. EDT

1 Min Read

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Tokyo-based Star Bank reportedly will sue the Bank of Tokyo-Mitsubishi UFJ if it cancels
the ATM-sharing deal between them. The banks offered no immediate comment
about the report, which appeared in the Japan Corporate News newswire this week.

Tokyo-Mitsubishi, which said it would end the ATM deal on Nov. 4., says it has lost
ATM-fee revenue because Star Bank is offering free transactions to customers of all
banks. The bank has deployed about 2,500 ATMs in Japan, while Mitsubishi has
deployed about 23,000 machines.

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