J:COM, KDDI To Invest In Jupiter Shop Channel

(RTTNews) - Jupiter Telecommunications Co., Ltd. or J:COM has decided to acquire 50 percent of the shares of Jupiter Shop Channel Co., Ltd., the country's largest television shopping business.

At the same time, KDDI Corp. will acquire 5 percent of shares held in Shop Channel by Sumitomo Corp.

Jupiter Shop Channel began Japan's first dedicated television shopping channel to incorporate live telecasting in November 1996. It broadcasts live 24 hours a day, 365 days of the year.

It can be viewed free-of-charge in 28.71 million households nationwide via cable and satellite television. Annual sales have reached 136.5 billion yen, and the company has enjoyed enjoying revenue growth for 18 successive years since its founding.

J:COM, KDDI and Sumitomo will cooperate to further increase the corporate value of Shop Channel and to boost customer satisfaction.