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TOKYO -- Japanese trading company Sumitomo Corp. said this week that it has set up a venture to bring cable TV-based Internet firm @Home Corp. of California to Japan consumers.

May launch

The high-speed cable service should be available to about 5 million consumers and the joint venture will be set up in the middle of May to get the service started.

Sumitomo has a 21% stake in the venture, while Sumitomo-affiliated cable company Jupiter Telecommunications has a 36% stake and @Home has a 43% stake in the firm that will have initial capital of 2 billion yen ($16.7 million), Sumitomo said..

Stock boost

The news of the venture sent Sumitomo shares higher in Tokyo trading Wednesday, with the company closing at $7, an increase of 5.5% from its opening price.

@Home provides high-speed Internet connections through cable TV lines and Sumitomo's Jupiter service, a joint venture with U.S. cable operator TCI, is one of the largest in Japan.