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Market Chatter: Japan To Award 150 Billion Yen to Rakuten-Led Satellite Network Project

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Tokyo is set to grant a Rakuten Group-led (TYO:4755) consortium 150 billion yen over three years to build a domestic low-Earth orbit satellite communications system, Nikkei Asia reported on Tuesday, citing unnamed sources.

The internal affairs ministry is expected to formalize the decision shortly. Rakuten will collaborate with U.S.-based AST SpaceMobile to deploy a direct-to-handset satellite network across Japan, the publication said.

Rakuten didn't immediately respond to MT Newswire's request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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