Japan Travel Bureau Inc. said Tuesday it is in talks with Carlson Wagonlit Travel, the largest travel agency in the United States, on forming an alliance on business trips and a joint venture in Japan.
JTB, Japan's largest travel agency, said the two companies expect to set up the joint venture by the end of the year with a view to providing travel services to corporate customers mainly in Japan and the Asia-Pacific area.
JTB will hold a stake of more than 60 percent in the venture, with the remainder to be held by Carlson Wagonlit, which is based in New York.
With initial capital of some 500 million yen, the joint venture will take over part of JTB's business trip operations and Carlson Wagonlit's local subsidiary, JTB said.
The tieup is the first between major travel agencies in the two countries.
The two companies are also considering integrating their reservations systems and customer information management systems within three years, JTB said.
Carlson Wagonlit Travel has more than 3,000 sales bases in 140 countries, while JTB has some 700 sales offices in Japan and about 65 overseas offices.