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Industry: Email Alert RSS FeedSoftbank and Best Denki Establish Internet Firm
Computergram International, Sept 20, 1999
Consumer electronics retailer Best Denki Co and Softbank Corp have agreed to set up a joint venture to sell electronic and IT products over the internet. Softbank, Japan's top investor in internet companies, and Denki, which has about 500 large stores in Japan, plan to have the new firm up and running by October 19.
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Denki will hold two-thirds of the equity in the company which will be headed up by Denki president, Yasumitsu Kitada. The company, which will market a wide array of goods including household electronics products, computers, peripherals and software, is aiming for sales of 10bn yen ($92m) by 2003.
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