NTT DOCOMO Financial Group (NDFG)

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This entry sits under megabanks INDEX. Read it against Rakuten Insurance Holdings for peer / contrast context and banking index for the broader system / regulatory boundary.

TL;DR

The financial-business supervisory intermediate holding company “NTT DOCOMO Financial Group, Inc.” (DOCOMO FG), which commenced operations on 2026-07-01 with NTT DOCOMO succeeding to it the businesses and related shares in the financial domain via absorption-type split. It reorganizes securities (Monex Group) + banking (SBI Sumishin Net Bank / docomo Neobank brand) + cards & payments (d CARD / d払い / d Smart Bank) under 1 roof. Its positioning is the 4 th pole of the “telco-affiliated FGs” alongside au-fg / paypay-fg / rakuten-fg. The parent company is NTT DOCOMO (NTT 100%). ^•

1. Company overview

Legal name: NTT DOCOMO Financial Group, Inc. (abbreviated DOCOMO FG) ^• English name: only the Japanese trade name is confirmed in official announcements (the customary English notation is not treated as the official trade name) Commencement of operations: 2026-07-01 (the effective date of the absorption-type split, on an official-announcement basis) ^• Parent company: NTT DOCOMO, INC. (Nippon Telegraph and Telephone Corporation 100%) ^• Headquarters: 2-11-1 Nagatacho, Chiyoda-ku, Tokyo, Sanno Park Tower ^•

Establishment scheme (on a public-document basis) ^•

NTT DOCOMO announced a spin-off / transfer scheme consolidating its existing financial-related subsidiaries and equity interests into the intermediate holding company NDFG. NDFG is positioned as a 100% subsidiary of NTT DOCOMO, and a listing plan has not been announced. The ultimate top-level parent of the entire group continues to be Nippon Telegraph and Telephone (NTT, TSE PRIME 9432).

Parent-company chain

日本电信电话（NTT，东证 PRIME 9432）
  └── 株式会社 NTT docomo（NTT 100%，非上市）
        ├── 通信事业（核心）
        ├── 智能生活事业
        └── NDFG（中间金融持股公司，事业开始 2026-07-01）★

Major subsidiaries & holdings (on a public-announcement basis)

NDFG（中间持股，NTT docomo 100%，事业开始 2026-07-01）
  ├── Monex 集团（东证 PRIME 8698）
  │     ├── 出资：于 2024-01-04 设立中间持股公司「docomo Monex Holdings」，NTT docomo 取得表决权约 49%（Monex 集团约 51%）。基于董事过半数指名权的实质支配力标准，Monex 证券为 **NTT docomo 的合并子公司**（错位合并）•
  │     ├── Monex 证券（在线证券，零售）
  │     ├── TradeStation（美国在线券商）
  │     └── Coincheck Group（加密资产交换业，有美国 Nasdaq 上市经纬）
  ├── 住信 SBI 网络银行（旧 东证 STD 7163，2025-09 docomo TOB 成立后退市）
  │     ├── 于 2025-10-01 **成为 NTT docomo 的合并子公司**（TOB 启动 2025-05-30起，实质支配力标准）•
  │     ├── 资本重组后的持股比例 docomo 55.37%：三井住友信托 44.63%，经 A 种种类股转换后**表决权 50%／50%**的共同经营 •
  │     └── 预定于 2026-08-03 将商号变更为 **株式会社 docomo SMTB 网络银行** •
  ├── d 卡・d 払い 事业（经吸收分割承继至 NDFG，2026-03-31 公布）•
  ├── 株式会社 docomo・Insurance（经吸收分割承继）•
  ├── 株式会社 docomo・Finance（经吸收分割承继）•
  └── d Smart Bank（与住信 SBI 网络银行联动的银行服务）•

Key timeline (on a public-announcement basis) ^•

2. Business segment map

Sources: ^[NTT ドコモ「金融事業における事業再編および『NTTドコモ・フィナンシャルグループ』体制への移行について」: https://www.docomo.ne.jp/info/news_release/2026/03/31_00.html; NTT ドコモ「マネックスグループ・マネックス証券との資本業務提携契約を締結」: https://www.docomo.ne.jp/info/news_release/2023/10/04_00.html.]

Positioning as the “4 th pole” of telco-affiliated FGs

• The existing 3 poles: au-fg (KDDI / a reorganization period after selling au Jibun Bank), paypay-fg (SoftBank / Z Holdings keiretsu, PayPay Bank + PayPay Securities + PayPay Card), rakuten-fg (Rakuten Bank / Rakuten Securities / Rakuten Card / Rakuten Pay)

Aim of the financial-services integration (the gist of the public announcement) ^•

1. Changing the operating bodies of securities, banking, cards, and points from dispersed management to supervisory management, clarifying group KPIs and ROE management
2. Separating the management responsibility of the NTT DOCOMO main body (telecom) from the financial business (regulatory response, governance)
3. Centralizing, at the intermediate-HD level, the cross-sell design of the d-point economic zone + financial products

Partnership / acquisition strategy

• Monex Group: capital and business alliance agreement (2023-10-04) → consolidated-subsidiary conversion completed in 2024-01-04 (via docomo Monex HD, DOCOMO voting rights approx. 49%). The core of the securities segment ^•
• SBI Sumishin Net Bank: developing from providing the docomo Neobank brand, with a TOB launched in 2025-05-30 (established 2025-09 ), it becomes an NTT DOCOMO consolidated subsidiary on 2025-10-01. After capital reorganization, DOCOMO 55.37% : Sumitomo Mitsui Trust 44.63% (joint management at voting rights 50%／50%), and a 2026-08-03 name change to “docomo SMTB Net Bank” ^•
• Coincheck Group: succeeded as a crypto-asset business under Monex ^•

B2C branding

• d-brand integration: continuing the commonization of the “d” prefix across d CARD, d Smart Bank, d POINT, and d払い ^•

4. Regulation & policy

• Supervisor: Financial Services Agency (FSA)
  • Type-I Financial Instruments Business (Monex Securities)
  • Banking business (SBI Sumishin Net Bank)
  • Comprehensive credit-purchase intermediary business (d CARD)
  • Funds-transfer business / prepaid payment instruments (d払い, d POINT)
  • Crypto-asset exchange business (Coincheck)
  • Banking business (SBI Sumishin Net Bank, already converted to a DOCOMO consolidated subsidiary → docomo SMTB Net Bank)

Related

• mufg · smfg · mizuho-fg — the megabank 3 poles
• au-fg · paypay-fg · rakuten-fg — telco-affiliated FG peers
• sbi-hd — parent company of SBI Sumishin Net Bank

Sources

• NTT DOCOMO official press releases (public announcements regarding the establishment of the financial-business supervisory intermediate holding company / published sequentially)
• NTT DOCOMO “Conclusion of a Capital and Business Alliance Agreement with Monex Group / Monex Securities” (2023-10-04, confirming docomo Monex HD, DOCOMO voting rights approx. 49%, consolidated-subsidiary conversion 2024-01-04) https://www.docomo.ne.jp/info/news_release/2023/10/04_00.html
• NTT DOCOMO “Commencement of a Tender Offer for the Common Stock of SBI Sumishin Net Bank, Ltd. …” (2025-05-29, confirming the TOB launch and the capital and business alliance) https://www.docomo.ne.jp/info/news_release/2025/05/29_01.html
• NTT DOCOMO “Change of SBI Sumishin Net Bank’s Trade Name to ‘docomo SMTB Net Bank’, Capital Reorganization …” (2025-12-19, confirming the 2025-10-01 consolidated-subsidiary conversion, voting rights 50%／50%, and the 2026-08-03 name change) https://www.docomo.ne.jp/info/news_release/2025/12/19_00.html
• NTT DOCOMO “Regarding the Business Reorganization in the Financial Business and the Transition to the ‘NTT DOCOMO Financial Group’ Structure” (2026-03-31, confirming the company name “NTT DOCOMO Financial Group, Inc.”, 2026-07-01 commencement of operations, the headquarters “2-11-1 Nagatacho, Chiyoda-ku, Tokyo, Sanno Park Tower”, and the succession via absorption-type split of the “d CARD®” and “d払い®” businesses and the shares of docomo Insurance / docomo Finance / docomo Monex HD / SBI Sumishin (→docomo SMTB) Net Bank) https://www.docomo.ne.jp/info/news_release/2026/03/31_00.html
• NTT DOCOMO “New Organizations, etc.” (2026-05-08, confirming the 2026-07-01 transfer of financial functions and organizational reorganization) https://www.docomo.ne.jp/info/news_release/2026/05/08_00.html
• NTT DOCOMO parent-company TOB-related timely disclosures (NTT 9432 wholly-owned-subsidiary conversion, 2019-12〜2020-12)
• Wikipedia: NTT DOCOMO and the NTT entry
• Nikkei / Bloomberg / Reuters public reporting (2024〜2026)

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[!info] Verification status confidence: likely (v1.2 based on public announcements + timely disclosures, 2026-07-29 verification). Per the business-reorganization release published by NTT DOCOMO 2026-03-31, the company name “NTT DOCOMO Financial Group, Inc.”, 2026-07-01 commencement of operations (the absorption-type split takes effect), the headquarters “2-11-1 Nagatacho, Chiyoda-ku, Tokyo, Sanno Park Tower”, and the succession targets (the “d CARD®” and “d払い®” businesses + the shares of docomo Insurance / docomo Finance / docomo Monex HD / SBI Sumishin →docomo SMTB Net Bank) are confirmed. Because the official announcements do not indicate an English trade name, the customary English name is not treated as the official trade name. Monex Securities as of 2024-01-04 (docomo Monex HD, DOCOMO voting rights approx. 49%), and SBI Sumishin Net Bank becoming an NTT DOCOMO consolidated subsidiary as of 2025-10-01 (joint management with Sumitomo Mitsui Trust at voting rights 50%／50%, with a scheduled name change to “docomo SMTB Net Bank” at 2026-08-03) are officially confirmed. Whether d-points remain in the main body vs are transferred to NDFG is not individually specified in the official releases and, being unconfirmed speculation, is isolated to .opinions/JapanFG/ndfg.md.