AST SpaceMobile, Rakuten Form Japan JV, Secure ~$1B Funding
AST SpaceMobile, Inc. announced the formation of a joint venture with Rakuten Group, Inc. named Rakuten AST, Inc. This venture aims to build a direct-to-device satellite communications network in Japan, designed to enhance disaster resilience and economic security. The project is expected to receive approximately $1 billion USD in funding from Japan's Ministry of Internal Affairs and Communications (MIC) over three years. AST SpaceMobile will provide the necessary satellites, while Rakuten will manage the network operations within Japan. The joint venture plans to commence domestic operations by the end of March 2029.
Key Highlights
- AST SpaceMobile and Rakuten establish Rakuten AST joint venture to build D2D satellite network in Japan.
- Rakuten AST to receive up to approximately $1 billion USD in funding from Japan's MIC over three years.
- Joint venture aims to build disaster-resilient communications infrastructure for Japan.
- AST SpaceMobile will supply satellites for Japan's sovereign direct-to-device constellation.
- Rakuten Group to hold 51% stake, AST SpaceMobile Japan Holdings II GK 49% in the JV.
- Domestic operations are planned to commence by the end of March 2029.
Price Impact
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