NTT Mobile Communications Network, Inc.
SOFTBANK CORP.
Mediabank Corporation
| TOKYO, JAPAN, June 30, 1999 -- NTT DATA CORPORATION. (NTT DATA) and NTT Mobile Communications Network, Inc. (NTT DoCoMo) have agreed to form a business alliance aimed at launching an Internet service provider (ISP) business specially tailored for the mobile telecommunications environment. The ISP industry is expected to expand greatly. The firms also announced that they have reached an agreement with SOFTBANK CORP. to acquire its 60% stake in Mediabank Corporation, which will make them the two sole owners of this Internet service provider (ISP). Under the agreement, NTT DATA will increase its current holdings from 40% to 60% and NTT DoCoMo will purchase the remaining 40% of the stock. In conjunction with the stock sale, Mediabank will change its name to DREAM NET Corporation on July 21 and Noritaka Uji, Executive Vice President, Advanced Information Network Services Sector of NTT DATA, will be appointed its new president. NTT DATA, Japan's leading data communications service company in terms of both technology and operational strength, and NTT DoCoMo, the world's largest mobile communications operator, are tying up to develop high-quality, seamless (wired and wireless) Internet services and related content for the mobile communications environment. Mediabank has been expanding its business through the provision of reliable, high-quality services. In addition to plans to further enhance the quality and expand the diversity of its Internet services, the company will utilize NTT DoCoMo's experience and know-how to begin offering mobile communications services, including advanced services based on NTT DoCoMo's next-generation mobile communication system, IMT-2000. In addition, the company will become actively involved with many of NTT DATA's e-commerce services, including magnet, an Internet community service for parents, their children, "Machiko" service for Internet shopping, Business network Internet portal service for corporate users, "Gamer's Dream" online game service on Internet, and orderit Internet service for office equipment sales. NTT DATA and NTT DoCoMo have a plan to increase their share capital in DREAM NET in order to strengthen its business base, while developing new businesses at the same time. DREAM NET will continue to cooperate with selected firms in the SOFTBANK group. In addition to the aforementioned "orderit" Internet service, on which NTT DATA and SOFTBANK have already formed an alliance, SOFTBANK will enhance its tie-up with NTT DATA in order to create new business and expand its Internet services. IMT-2000: International Mobile Telecommunications-2000 DREAM NET Corporation (Currently, Mediabank Corporation) DREAM NET(http://www.mbn.or.jp) |
