Jupiter, KDDI, Sumitomo Form Alliance
June 11, 2010
Japanese cable TV operator Jupiter Telecommunications, or JCOM, announced on June 10 that the company will form a strategic alliance with two Japanese companies Sumitomo and KDDI in the telecommunications and cable TV business segments, leveraging their proprietary technologies, the Kyoto News reported on June 10. Sumitomo and KDDI are also two major shareholders of JCOM, with Sumitomo holding about 40% share up from around 27% in April 2010 and KDDI purchasing approximately 31% share in JCOM in February 2010. Financial details of the alliance, however, were not yet disclosed. Meanwhile, JCOM stated that the company is also in talks with KDDI's subsidiary Japan Cablenet to form an alliance, whereby allows both companies to expand their customer bases with lower phone charges and attain synergies in terms of shared distribution networks, according to the same source.