Consumer electronics retailer Best Denki Co. and two Softbank Corp. group firms said Friday they have agreed to set up a joint venture April 1 to sell Softbank group's broadband services.
The new venture, Best BroadBand Corp., will be capitalized at 100 million yen and owned 60 percent by Best Denki, 30 percent by Softbank Commerce Corp., and 10 percent by BB Technologies Corp., according to a news release by the three companies.
Under the agreement, the new venture is to sell Yahoo BB, an ADSL high-speed Internet access service operated by BB Technologies, at 150 of Best Denki's stores.
Best BroadBand will also start selling BB Phone, a less expensive Internet protocol-based phone service, at 100 Best Denki stores in the near future, the companies said.
The Best Denki stores will have their own Yahoo BB corner providing information on the broadband services, they said.