Nikkei has agreed to form a broad partnership with S&P Global to develop a new service and distribute its market-related content around the globe, the Japanese media company announced.
Under the partnership, a new service will use artificial intelligence to distribute news and data about Asian companies. The partners will also explore developing a database centered on Asian firms and making Nikkei's original content more broadly available.
As part of the joint venture, a capital partnership has been formed between Nikkei, S&P Global Market Intelligence, a division of S&P Global, and DC Frontiers, a data technology company based in Singapore.
Nikkei has boosted its investment in DC Frontiers to become its largest shareholder, while S&P Global Market Intelligence has taken a stake in the company to become its fourth largest shareholder.
The partnership will build on Nikkei's Asia-focused news and data platform, scoutAsia, and aims to develop a next-generation service to provide information beyond regular financial statements -- such as publishing information about risks to supply chain networks or environmental, social and corporate governance issues.
In addition to expanding scoutAsia, the partners will also explore the global distribution of Nikkei content, such as English translations of articles written in Japanese, and data compiled by Nikkei Group that could be used for economic forecasting and analyses.
S&P Global is a provider of financial information. Its operations include credit rating agency S&P Global Ratings, market index services, and financial data platform Capital IQ Pro. In February, S&P Global, based in New York, acquired IHS Markit, a U.K. research company.