Isetan Mitsukoshi Holdings Ltd. (TSE:3099), Shinsei Bank, Limited (TSE:8303) and Jordan Commercial Bank have emerged to make a joint bid for Citigroup Inc. (NYSE:C) credit card business in Japan, Reuters reproted citing Nikkei. Shinsei is expected to be the main buyer, with JCB assisting with account settlements and Isetan Mitsubishi providing department store services to cardholders. The companies have not yet decided what they will pay for the business.

Citi declined to comment or confirm the report.