• Kyodo News

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Major credit card firm JCB Co. will accept Takao Kawanishi, vice president of Bank of Tokyo-Mitsubishi UFJ, as the successor to current President Tamio Takakura, sources said Thursday.

The planned change of president to the 61-year-old Kawanishi from the 64-year-old Takakura is aimed at rejuvenating the management of JCB, the sources said, adding Takakura will become JCB chairman.

Kawanishi assumed the current post in April 2008 after taking key posts, including managing director of the bank.

Kawanishi started his career in 1972 at the now-defunct Sanwa Bank, a premerger component of Mitsubishi UFJ Financial Group Inc.

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