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SBI Remit Co., Ltd. (Headquarters: Bunkyo-ku, Tokyo; Chairman and CEO: Nobuo Ando, hereinafter “the Company”), which operates an international remittance service business, announces that as of May 27, the cumulative amount of international remittances handled (in yen equivalent) has exceeded 2.5 trillion yen.

The Company aims to provide highly convenient hometown remittance services as financial services for foreign residents. Established as a funds transfer service provider under the “Act on Settlement of Funds (Payment Services Act)” enforced in April 2010 (classified as a Type II funds transfer service provider following the amendment to the Payment Services Act in May 2021), the Company launched its international remittance service in December of the same year.

For foreign residents active in Japanese society, the Company has offered innovative convenience compared to the international remittance services previously provided by banks, including significantly low usage fees starting from 460 yen, high-speed international remittance with “funds receivable in as little as 10 minutes,” and expanded access points such as deposits from ATMs.

Additionally, from 2023, the Company started a bank account tie-up service with Sumishin SBI Net Bank. Banking account opening, which imposes significant effort on the individual and related parties, can now be completed without visiting a branch using a multilingual app that supports eight languages. After account opening, immediate fund transfers to the Company’s remittance app (available 24 hours a day, 365 days a year, without visiting an ATM, except during maintenance), cashless payments with a debit card, and domestic living expense payments such as utility bill withdrawals are possible. These conveniences tailored to foreign residents’ living needs have resulted in rapid account growth.

The Company will continue to expand the capabilities of both international remittance and banking service products, utilizing the Group’s extensive financial functions and IT technologies, and further pursuing higher convenience.

With the establishment of the Training and Employment System in April 2027 and the increase in foreign workers with specified skills, it is expected that the acceptance of foreign workers will rapidly shift from short-term stays to long-term and settlement-type stays .（※）

Going forward, the Company hopes to contribute to establishing a foundation for accepting foreign workers in Japan by developing and providing financial services that respond to the needs of individuals residing for longer periods.

（※） Based on our company’s estimates derived from the Ministry of Health, Labour and Welfare’s 「Overview of the Training and Employment System」

https://www.mhlw.go.jp/content/11601000/001301676.pdf