Sumitomo, Others Form JV to Offer Local 5G Networks
Tokyo, Dec. 24 (Jiji Press)--Sumitomo Corp. <8053> and seven other Japanese companies said Tuesday they have set up a joint venture to provide fifth-generation wireless networks to cable television operators.
The trading house has a stake of over 50 pct in the joint venture, and network service provider Internet Initiative Japan Inc. <3774> owns 20 pct of the new company.
The six other shareholders are Regional Wireless Japan Ltd., which supports wireless operations in the cable TV industry, and five cable TV operators.
Starting as early as March, the joint venture will offer local 5G networks to cable TV operators across Japan.
The new company will provide comprehensive 5G-related services, including the installation of wireless base stations and the sale and maintenance of network equipment.
[Copyright The Jiji Press, Ltd.]