Japanese telecom gaint Softbank recorded a loss of $350 million for last nine months of 2016 in the fair value of the Company’s investments in India. The loss comes on top of a $555 million writedown on the value of Softbank’s India portfolio in the six-month period ending September 2016. “With reference to the current markdown, portfolio…
Executives of Japanese telecom firms NTT Communications, NEC Corp and KDDI Corp and top officials from the country’s internal affairs and communications ministry will call on telecom minister Ravi Shankar Prasad on Wednesday to explore a clutch of mega technology joint ventures, two persons familiar with the matter told ET.
The joint ventures are likely to be formed in the fields of green mobile base stations manufacturing, cyber and network security, disaster management and ICT applications for social and economic challenges, they said.
Telecom secretary Rakesh Garg and senior officials of the telecom department will be present in the meeting of the Indo-Japan joint working group, which will explore ways to strengthen cooperation and bilateral ties between the two countries in the realm of IT and telecom.
Representatives of Cellular Operators Association of India (COAI) and Telecom Equipment Manufacturers Association (Tema) will also be present in the meeting that will be chaired by Prasad, who is also the IT minister. The Japanese delegation will be led by Yasuo Sakamoto, vice minister for policy coordination and international affairs in the country’s communications ministry. Original post at ET Telecom, click here to read the full post