SoftBank to test Japan ride-hailing service with China's DiDi Chuxing in autumn

SoftBank Corp. announced on Thursday that it will launch trial services for its taxi-hailing platform this fall by teaming up with Chinese mobility tech giant DiDi Chuxing. SoftBank and DiDi set up a joint venture last month called DiDi Mobility Japan to run the platform, which the firms say will improve the efficiency and quality of cab services and eventually help the industry grow. Japan already has several similar ride-hailing services, but the entry of DiDi -- whose 550 million clients make it one of the largest in the world along with SoftBank -- will raise the bar on the competition. "We believe this joint venture will add tremendous value to the taxi community in Japan, leveraging the technology abilities of DiDi as well as SoftBank's strong presence and strong customer base in Japan," said Stephen Zhu, head of DiDi Mobility Japan. The two firms said Japan's taxi industry faces a number of issues, including aging drivers and a cabbie shortage, as well as growing demand caused by a tourism boom.