Jupiter Telecommunications (J:Com) and Japanese mobile operator, KDDI is acquiring a stake in Shop Channel, Japan's first dedicated television shopping channel. J:COM is Japan's largest cable TV operator that provides services to approximately 5 million households in five major metropolitan areas of Japan. The transaction will see J:Com taking 50 percent of shares from Bain Capital Partners, and KDDI securing a 5 percent stake from Sumitomo, which will retain 45 percent share in the company.
Sumitomo hopes to further strengthen key strategies to grow Shop Channel's customer base and internet sales and will continue to position Shop Channel as its core business in its retail strategy and will strive for the company's further growth and increased corporate value.
Started in 1996, Shop Channel provides free 24 hour live telecasting to 28.71 million households nationwide via cable and satellite television. The company's annual sales reaches 136.5 billion yen last year.
