Japan firms to start information security rating body
TOKYO, April 8
TOKYO, April 8 (Reuters) - A group of 18 Japanese companies, including Matsushita (6752.T) and Fujitsu Ltd (6702.T), said they would set up the world's first ratings agency that evaluates levels of corporate information security.
The move comes after a series of leakages of confidential corporate information, such as client data onto the Internet, have raised concerns among management about the information security of their own companies and their business partners.
The new entity, called I.S. Rating and capitalised at 280 million yen ($2.74 million), will be set up in May and start operations in July, the founding companies said on Tuesday.
Major stakeholders in the new ratings agency include Matsushita Electric Industrial Co, Fujitsu, Fuji Xerox, Nomura Research Institute Ltd (4307.T) and Rating and Investment Information Inc.
Fuji Xerox is owned three quarters by Fujifilm Holdings Corp (4901.T) and the remainder by Xerox Corp (XRX.N), while Rating and Investment Information is a Japanese credit ratings agency.
I.S. Rating plans to raise its capital by 200 million yen by July and several other companies including Sony Corp (6758.T) have already shown interest in buying the new shares.
I.S. Rating aims for about 800 million yen in sales in its first year of operation to March 2009, and 1.9 billion yen in the year ending March 2011.
(Reporting by Kiyoshi Takenaka; Editing by Ben Tan)
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