Toyota Motor and Japanese telecom giant NTT are planning to form a major capital tie-up, according to broadcaster NHK.

It is believed the two firms aim to use 5G technology to advance the development of a so-called 'smart city', the report said.

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The two companies plan to invest about JPY200bn (nearly USD2bn) each.

The move comes as Japan's major automakers and telecommunications giants have been making major efforts to strengthen ties between them, NHK noted.

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