ASTS Stock Jumps 2% as Rakuten Reveals Japan Satellite JV to Challenge SpaceX's Starlink

According to Nikkei, AST SpaceMobile (ASTS) shares jumped 2% overnight heading into Wednesday (June 24) after Rakuten Group revealed plans to form a satellite joint venture with the U.S. startup. Rakuten CEO Hiroshi Mikitani said the company will establish equal stakes in the JV with AST SpaceMobile this year, with Rakuten leading management. "It's extremely critical to start a service backed largely by Japanese capital," Mikitani said. The JV will buy and operate satellites for direct-to-mobile communications, targeting phased rollout starting end of 2026 and nationwide Japan coverage by fiscal 2027, directly competing against larger rivals KDDI, SoftBank and NTT Docomo using SpaceX's Starlink network.
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