Softbank and Pacific Century CyberWorks have taken steps to repair strained relations following Softbank vice-president Yoshitaka Kitao's verbal assault on CyberWorks chief Richard Li Tzar-kai last month during a visit to Hong Kong.
A source close to Softbank said Mr Kitao had lunched with Mr Li in Tokyo yesterday in a bid to restore ties which were damaged by his televised criticisms of Mr Li and Hikari Tsushin president Yasumitsu Shigeta.
'It was the first time [Mr Kitao] and [Mr Li] have been in direct dialogue,' the source said.
The lunch was said to have been more than just a social occasion.
A number of business deals between CyberWorks and Softbank's Hong Kong-listed arm are believed to have been discussed and the future direction of co-operation between the two companies mapped out during the meeting.
Analysts said that the need for the two Asian Internet giants to co-operate more closely has become more apparent in view of the worldwide downturn in Internet stocks.