March 28, 2017 Approval to JICT’s Decision on Project Suppor

The Ministry of Internal Affairs and Communications (MIC) today approved an application of Fund Corporation for the Overseas Development of Japan’s ICT and Postal Services (JICT) for project support as requested in accordance with the provisions of Article 25, Paragraph 2 of the Act on Fund Corporation for the Overseas Development of Japan’s ICT and Postal Service.
The project decided this time will establish a new company to manage and implement overseas business operations, provide mobile virtual network operator (MVNO) services (mobile communications services by leasing lines from other mobile communications carriers), and expand mobile communications business combining the production and sales of mobile communications terminals overseas. JICT is planning to finance the project with a maximum of 1.5 billion yen (including an investment of 1.2 billion yen and a maximum loan of 300 million yen).