KDDI Corp. will begin providing global communications networks in August with BT Group PLC, mainly targeting leading Japanese companies carrying out overseas operations, the two companies said Monday.
The joint venture will be established Aug. 1 with capital of about 1.5 billion yen, the carriers said. The sales target is 5 billion yen for the first business year.
The venture, tentatively named KDDI&BT Solutions Corp., will be equally owned by KDDI and BT (Netherlands) Holdings B.V., the two companies said.
The deal will pave the way for BT Group's full-scale return to the Japanese market after it sold its shares in Japan Telecom Co. to Vodafone in 2001.
KDDI has been strengthening its global operations by building new networks, as Japanese leading companies are increasingly in need of securing high-quality broadband communications networks at lower costs.
The officials said KDDI will launch new services in the United States in September, in Hong Kong and Singapore by the end of this year and in China and South Korea later.