The venture will have immediate access to 80 percent of Japan_s Internet users.

Softbank Wednesday announced a joint venture that will open a Japanese version of Microsoft_s online auto purchasing service, MSN CarPoint. Under the terms of the deal, the venture will be initially capitalized at 840 million yen ($7.1 million) and will be 50 percent owned by Softbank, 40 percent by Microsoft and 10 percent by Yahoo Japan, a Softbank affiliate. Softbank President and CEO Masayoshi Son will serve as president of the new venture, called CarPoint Japan KK. The new company will open its doors next month. Son said he expects the venture to start selling new cars in November and used cars early next year. He would not forecast when CarPoint Japan turn a profit. The venture will have immediate access to 80 percent of Japan_s Internet users by leveraging the existing subscriber base of Microsoft Network Japan and Internet traffic flowing to Yahoo Japan, officials said. Son said he expects this universe of potential buyers will spur sales at CarPoint Japan and pointed to the U.S. as a measure of the potential market here. "In the United States, currently 8 percent of total car sales are Internet related," said Son. "And it is estimated that in a few years, 20 to 30 percent of sales will be. I think Japan is two or three years behind this trend." The CarPoint system gives potential buyers access to a wide range of information on car models, features and financing. It is paired with software for dealers, called DealerPoint, for which dealers pay a certain fee depending on how many "leads," or customers, directly inquire about specific cars through the CarPoint site. In the U.S., CarPoint in January had "over 3.8 million visitors," said Lindsay Sparks, general manager of Microsoft_s CarPoint business unit. He did not say what percentage of those visits led to a purchase of a car.