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SoftBank launches used car subscriptions as telecom growth slows

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SoftBank Corp. said Tuesday it has launched a subscription service that lets customers drive a used car at a fixed monthly rate, as it tries to diversify its business portfolio amid a slow growth in the flagship mobile phone business.

The Japanese telecom company has set up Carro Japan Corp. in Tokyo, a joint venture with Singapore-based online used car retailer Trusty Cars Pte. Ltd., for the new service.

Carro Japan started the service for corporate customers Tuesday, with an eye to expanding it to individual customers through partnership with SoftBank’s group companies such as Yahoo Japan Corp.
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