Internet Initiative Japan Inc., a major Internet service provider, said Thursday it will float and sell some 12 billion yen in shares to a group of companies including NTT Corp.
Although details of the third-party share allotment plan, which was approved at an IIJ board meeting in the afternoon and will be implemented Sept. 16, have yet to be worked out, the NTT group is expected to become the firm's top shareholder, according to IIJ.
In addition to the NTT group, IIJ has requested both Sumitomo Corp. and Itochu Corp., existing major shareholders in the firm, to purchase new IIJ shares, the company said.