On October 10, 2017 Fujitsu, the IT products and services company, announced that it has reached an agreement with Mizuho Financial Group Inc., Sumitomo Mitsui Financial Group Inc. and Mitsubishi UFJ Financial Group Inc. to conduct a joint field trial of a person-to-person (P2P) money transfer service using blockchain technology. The trial is expected to commence in January 2018 and last for three months.