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Best Denki Co. and Softbank Corp. on Thursday agreed to establish a joint venture on Oct. 19 that will sell household electronics and other merchandise and services over the Internet, the companies announced.

Capitalized at 300 million yen, BEST Corp. is to be 66.7 percent owned by Best Denki and 33.3 percent by Softbank. It will start operating in January 2000 and expects to receive orders totaling 1.5 billion yen in its first year and 10 billion yen in 2003.

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