Rakuten and AST agree to form a Japan satellite venture

On Nov. 9, 2026 Rakuten and AST SpaceMobile said they agreed on Nov. 6 to establish Rakuten AST, Inc., which would buy and operate low-Earth-orbit satellites for direct-to-phone service in Japan. The release gives Rakuten Group 51 percent of the voting rights and AST SpaceMobile Japan Holdings II GK 49 percent, with legal capital of 100 million yen, and says incorporation is planned for November 2026. Rakuten AST is expected to receive up to 148 billion yen, about $1 billion, over about three years under J-LEO after the company is established, and the release targets domestic operations by the end of March 2029. AST would supply the satellites. A headline line says funding was awarded; the body and note 4 say the grant is expected after establishment.