(Associated Press via Newsedge) Japan 's KDDI and Britain 's BT Group will form a 50-50 joint venture to target outsourcing business and global communications for international companies.
The new venture is aiming for 5 billion yen ($43.5 million) in sales in its first year, the companies said at a news conference in Tokyo .
KDDI and BT, a major British telecommunications company, will each hold a 50% stake in the company, based in Tokyo , capitalized at about 1.5 billion yen ($12.9 million), they said.
The deal will also pave the way for BT Group's full-scale return to the Japanese market after it sold its shares in Japan Telecom to Vodafone in 2001.
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