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Business deals

KDDI to invest in Japan's third largest food delivery app Menu

Carrier hopes $45m deal will boost use of its mobile payment in growing market

Japanese telecom operator KDDI will take a 20% stake in the country's No. 3 food delivery service, hoping to boost is mobile payments business. (Source photo by Kaisuke Ota)

TOKYO -- Japan's KDDI is set to invest in the country's third-largest food delivery service, Menu, as the telecom operator seeks to expand its mobile payment platform by making use of delivery data amid flat growth in the telecommunications business.

Uber Eats Japan and Demae-can are the two largest food delivery companies in Japan, but the latest move illustrates the heightened competition prompted by an expanding market and increased demand for deliveries brought on by the COVID-19 pandemic.

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