U.S. conglomerate General Electric Co. will enter Japan’s housing loan business, opening seven outlets in six major cities from April, company officials said Friday.

It plans to provide lower rates for applicants with strong credit histories, they said.

GE Consumer Finance Co., a group firm that manages the Honobono Lake consumer credit operation and a credit card unit in Japan, will open offices in Tokyo, Osaka, Nagoya, Sapporo, Sendai and Fukuoka under the brand name GE Money.

The company will formally announce its plan later this month, a GE spokesman said.

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