Softbank Media & Marketing Corp., a media-related business unit of Softbank Corp., announced Friday that it will set up a joint venture with Rivals.com Inc. of the United States to launch a Japanese version of Rivals' sports Web site.
Rivals operates an Internet site that carries news and features on U.S. sports. It claims the site is the sixth largest of its kind in the U.S. in terms of the number of visitors.
Rivals Japan Corp. will be capitalized at 450 million yen, 60 percent of which will be owned by Softbank Media & Marketing and the remainder by Rivals.