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SoftBank, Alibaba join forces for cloud service in Japan

SoftBank Corp. said it is backing 60% of the cloud venture.

BEIJING — Alibaba Group Holding Ltd. and SoftBank Corp. said Friday they will form a joint venture to launch cloud-computing services in Japan.

While financial terms weren’t disclosed, SoftBank 9984, -3.43% said in a release it will fund 60%...