Dow Jones & Company and SBI Holdings, Inc. of Japan, a leader in online financial services, will form a joint venture, Wall Street Journal Japan K.K., which will operate a Japanese-language Web site. The site is expected to be launched later this year.
Under a licensing arrangement between Wall Street Journal Japan K.K. and Dow Jones, the new site, carrying The Wall Street Journal brand, will primarily feature Japanese translations of content, including video and other multimedia, from all print and online editions of The Wall Street Journal and those of other Dow Jones publications. Wall Street Journal Japan K.K. also plans to develop mobile products and services in conjunction with the new site. Dow Jones will appoint the new site’s managing editor, who will oversee an editorial team dedicated to the joint venture’s operations.
“This new venture represents a truly major milestone for Dow Jones in Japan and for The Wall Street Journal’s global franchise,” said Todd Larsen, chief operating officer, Dow Jones Consumer Media Group. “It underscores our strategic commitment to fully realizing the enormous potential of local-language media platforms and to meeting the growing demand for trusted business and financial news.”
“I believe the launch of our joint venture’s planned new Web site will be received with especially great interest in light of Japan’s current economic environment,” said Yoshitaka Kitao, Representative Director and CEO, SBI Holdings. “The SBI Group has offered an expanding range of online financial services through its innovative use of the Internet, and this represents an important new step for the Group as a strategic business innovator.”
The new Japanese-language Web site will be the second major Asian-language site operated under The Wall Street Journal brand in the region. The Journal’s Chinese-language Web site, Chinese.WSJ.com, launched in 2002, has more than 500,000 registered users and is the only foreign Web site to rank (6th) in the top 10 business and finance sites in China. (Source: iwebChoice.com/iresearch.cn)
The agreement with SBIH follows the signing in February this year of a distribution and marketing partnership between Dow Jones and The Yomiuri Shimbun, which in March commenced printing and distributing The Wall Street Journal Asia in Japan.