Compiled from wire reports JSAT Corp., the nation's largest communications satellite operator, and PanAmSat Corp. of the United States, announced a tieup Wednesday that will make JSAT the first Asian satellite company to cover North America.
The two companies plan to offer business data communications services linking North America with Japan and the rest of Asia, they said in a joint statement.
They also plan satellite services within the North American market.
JSAT and PanAmSat formed an equal joint venture the same day, Horizons Satellite, with initial capital of $100 million to launch a communications satellite in late 2002.
It will put the satellite midway between the U.S. West Coast and Hawaii, at a longitude of 127 degrees west, to provide communications services to North America, Latin America and Hawaii.
With this, JSAT will become the first Asian satellite communications firm to own a satellite that covers North America.
JSAT said the deal is an important strategic project to globalize its operations.
The company also said it will set up a wholly owned subsidiary, JSAT International Inc., in Delaware this month to carry out the new project.
The company aims to achieve annual revenues of 2 billion yen within three years of the launch of the new service, it said.
PanAmSat is the world's largest communications satellite operator, providing global video and data broadcasting services via satellite.