Softbank, JTB Link for Travel Site

TOKYO (04/12/2000) - The Softbank group and Japan's largest travel agency Japan Travel Bureau Inc. have launched an online travel service for Japan, the companies announced yesterday.

Tavigator Inc., which is a combination of the Japanese word for travel and the English word navigator, will be launched in May. Initially the company will offer domestic travel services although overseas tours will be added to the menu from July. JTB will help develop the travel side of the business and bring to the web site additional items such as discount air tickets, car rental services and even a souvenir shop, according to a statement issued by Softbank.

JTB will hold the largest single stake in the new company at 42 percent stake, although several companies belonging to the Softbank group will own 58 percent of the shares. Largest shareholder in the Softbank group will be Yahoo Japan Inc., which will hold a 30 percent stake, and Softbank E-Commerce Corp. will hold 10 percent. The remaining 18 percent will be held by other Softbank companies.

Softbank, in Tokyo, can be found online at http://www.softbank.co.jp/. JTB, also in Tokyo, is online at http://www.jtb.co.jp/.

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