Beijing-based bike-sharing provider ofo and SoftBank Commerce & Service Corp announced that they have reached a basic agreement to collaborate on the deployment of ofo’s bike-sharing business in Japan.
Ofo and SoftBank C&S plan to enter an exclusive partnership for a large-scale deployment, with SoftBank C&S serving as ofo’s strategic partner in Japan. The two companies plan to launch initially in Tokyo and Osaka next month.
Lawrence Cao, head of ofo’s APAC business, says Japan is an important market for its APAC expansion plan, with millions of locals adopting cycling across the country.
“Launching in Japan is a huge milestone for ofo. In a country where there is a strong cycling culture, we strive to further improve the convenience and cost-effectiveness that cycling can bring to people in Japan,” said Cao.
Cao added that SoftBank “has an impressive track record for technology innovation and capturing market trends. I envision great synergy between us and SoftBank C&S.”