NTT DoCoMo announced on July 8, 2011 that the company will team up with Baidu to distribute games and mobile phone content in China, according to the Wall Street Journal. It is reported that the two companies will set up a joint venture, and DoCoMo will hold 20% while Baidu will own 80% of the new company. DoCoMo is projected to invest approximately two billion yen (US$25.2 million; US$1=79.3 yen) in the JV. It is expected that DoCoMo will help Baidu to establish content distribution systems for mobile phones.