WSJ’s overseas expansion is continuing, now that parent Dow Jones (NYSE: NWS) has struck a joint venture with financial services company SBI Holdings to start up an online Japanese version of the newspaper’s site. The venture is backed with $4.1 million (or 400 million Yen) and will be set to go up sometime this year, CrainsNY says. DJ will retain a 60 percent stake in the venture, dubbed Wall Street Journal Japan K.K. This would be WSJ’s fourth non-English web outpost, after its Spanish, Portuguese and Chinese sites. It also follows a WSJ site for India, as well as it focus on building an expanded European presence.
While online advertising in the U.S. has been slowing for sometime — and the dismal economy has only promoted the deceleration — but web ads still have plenty of room to grow overseas, especially in Asia. And while the WSJ has been doing better than most other newspapers, it can still use as much advertising as it can get. As for DJ’s Japanese partner, Tokyo-based SBI Holdings should be able to benefit from expanding its array of holdings — the financial services company’s holdings include everything from credit cards and auto loans to venture capital to insurance. And as the operator of one of the country’s major online brokerages, SBI Securities Co., the alliance with the WSJ will only enhance its brand there.