Japanese alliance launches online car buyers' guide

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TOKYO--Softbank, Microsoft and Yahoo! have teamed up to form CarPoint JAPAN, a new company that will offer an online car buyers' guide.

The joint company, to be established with $7 million in capital, will provide a localized version of Microsoft's CarPoint Web site. Softbank will hold a 50% stake in the company, and Microsoft and Yahoo! will hold 40% and 10% stakes, respectively. The partners plan to launch the new Web site in November. Initially, the site will provide information for new car buyers only.

Copyright April 1999, Crain Communications Inc.

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