The venture will see Lastminute established as a brand in Japan. Kinki Nippon Tourist Company and Nippon Travel Agency will package travel products and provide access to their domestic and international late-availability travel supply. Lastminute will allow access to its international database of supply and other support during the launch and start-up phase.
There will also be online marketing relationships between the respective internet sites, and regular promotions to existing customer bases.
Mitsubishi Corproation/MC Capital Fund is coordinating the joint venture and will also provide managerial support.
Brent Hoberman, CEO of Lastminute, said the company was excited "to enter the second-largest internet market in the world with such high-calibre partners".
The company already has a presence in markets throughout Europe, Australia and South Africa.
Shares in Lastminute were trading up 9% this afternoon at 36p, up 2p from yesterday's close of 34p.
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