Competition is escalating among corporate groups in Japan as they strive to expand their spheres of influence by enticing customers with a variety of services, often bolstered by reward points, primarily geared toward shopping purposes.
Mobile phone service providers such as NTT Docomo are following the lead of internet-related conglomerate Rakuten Group, while megabanks are also entering the market, driven by the prospect of rising interest rates in Japan.
The field of competition has expanded to include securities companies, which have been leveraging the increasing interest in investment among retail investors following the expansion of the tax-exempt investment program known as NISA in January.