Document:

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                                                                    EXHIBIT 10.2

    (ENGLISH TRANSLATION OF JAPANESE LANGUAGE DOCUMENT FOR REFERENCE ONLY).

                        Higashi-Ikebukuro Center Building

                                 Lease Contract

                     Lessor: Kokyo Tatemono Kabushiki Kaisha

                  Lessee: Jupiter Telecommunications Co., Ltd.

                                 Lease Contract

    This lease contract (hereinafter referred to as the "Contract") is hereby
made between Kokyo Tatemono Kabushiki Kaisha (hereinafter referred to as
"Lessor") and Jupiter Telecommunications Co., Ltd. (hereinafter referred to as
"JCOM") as to the lease of the office space, as specified in Article 1, leased
from Mr. Taihei Suzuki and Mrs. Tamaki Suzuki (hereinafter collectively referred
to as the "Building Owner").

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    (ENGLISH TRANSLATION OF JAPANESE LANGUAGE DOCUMENT FOR REFERENCE ONLY).

Article 1 (Lease and Description of Office Space)

        Lessor hereby leases the office space described below (hereinafter
        referred to as the "Leased Office Space") to JCOM and JCOM leases from
        Lessor the Leased Office Space.

    (1)  Description of Building (hereinafter referred to as the "Building")

           Name:                           Higashi-Ikebukuro Center Building
           Location (Residential Address): 4-41-24, Higashi-Ikebukuro,
                                           Toshima-ku, Tokyo
           Structure and scale:            Steel framework, reinforced concrete,
                                           nine floors above ground

    (2)  Description of Leased Office Space

           Of the Building:

              Six floor above ground with the floor space of 510.50 sq. m.
              (154.42 tsubo)
              Seventh floor above ground with the floor space of 510.50 sq.m.
              (154.42 tsubo)
              Eighth floor above ground with the floor space of 510.50 sq.m.
              (154.42 tsubo) (hereinafter referred to as the "Leased Floor
              Space") The total Leased Floor Space is 1,531.50 sq.m. (463.26
              tsubo) The Leased Floor Space is the exclusive office space shown
              with the red line on the attached floor plan.

     (3)  Furnishings

          Electric equipment, lighting fixture, telephone wiring, air
          conditioning, security equipment, TV antenna for common use, and other
          furnishings are to be used as is.

Article 2 (Purpose of Use)

         JCOM shall use the Leased Office Space as an office space and for no
         other purposes.

Article 3 (Term of Lease)

      1. The Term of Lease shall be full two years from January 1, 1999 to
         December 31, 2000.

      2. When Lessor or JCOM wishes to terminate this Lease Contract upon
         expiration of the term of lease, either party shall notify the other
         party in writing to the effect six months prior to the expiration.

      3. In the absence of such six months written notice from Lessor or JCOM to
         the other party, this Lease Contract shall be automatically extended
         for another two years. The same shall apply to the term expiration
         thereafter.

Article 4 (Termination of Lease Contract Before Expiration)

         When Lessor or JCOM wishes to terminate this Lease Contract, in whole
         or a part, during the term of the lease, either party must so notify
         the other party in writing six months before termination.

         In this case, however, JCOM may immediately terminate this Lease
         Contract upon payment of an amount equivalent to six months rents in
         lieu of the advance notice

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    (ENGLISH TRANSLATION OF JAPANESE LANGUAGE DOCUMENT FOR REFERENCE ONLY).

         specified in the preceding paragraph.

Article 5 (Rent)

         The rent shall be 5,095,860 yen per month, with 11,000 yen per tsubo of
         the Leased Floor Space. JCOM shall pay the next month's rent by wire
         transfer to Lessor's designated bank account by the end of every month,
         and the wire transfer fee shall be borne by JCOM. The rent for periods
         less than a full month shall be prorated by the number of days of the
         relevant month.

     2.  Lessor may revise the rent provided for in the preceding paragraph on
         the renewal date of the Lease Contract through negotiation with JCOM.

     3.  Notwithstanding the above, Lessor may revise the said rent schedule
         through negotiation with JCOM when it considers that the rent is
         inappropriate due to a creation of or a substantial increase in taxes
         and public charges levied on lands and buildings, or substantial
         changes in economic circumstances or improvement of the building
         facilities, or changes in the lease terms between Lessor and the
         Building Owner.

Article 6 (Miscellaneous Expenses)

         In addition to the rent provided for in Article 5, Paragraph 1 above,
         JCOM shall bear the following expenses (hereinafter referred to as the
         "Miscellaneous Expenses").

             (1) Common charges        4,500 yen per tsubo of the Leased Floor
                                       Space
                                       2,084,670 yen per month

             (2) Charges for electricity in the Leased Office Space

             (3) Any expenses required for repairing, maintenance, operations,
                 etc. of the fixture and furnishings in the Leased Office Space
                 to restore the original conditions thereof in accordance with
                 Article 10.

             (4) Any expenses required for minor repairing works and painting
                 for maintenance of the ceiling, wall, floor, fixture and
                 equipment in the Leased Office Space.

             (5) Any expenses required for repairing works on damage caused
                 intentionally or out of negligence by JCOM or its
                 representative, or employees or other related parties.

             (6) Any expenses required for cleaning of the Leased Office Space

             (7) Any other expenses for which JCOM is liable.

      2.  The common charges provided for under Paragraph 1, Item (1) above
          shall be paid in the manner as specified under Article 5 for the rent
          payment, and the other Miscellaneous Expenses shall be paid without
          delay upon request by Lessor or a management company of the Building.

      3.  In the event of any increase in the Miscellaneous Expenses including
          upward revision of the public utilities charges or a hike in the
          management fee, Lessor may revise the schedule of the Miscellaneous
          Expenses provided for under Paragraph 1 above through negotiations
          with JCOM.

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    (ENGLISH TRANSLATION OF JAPANESE LANGUAGE DOCUMENT FOR REFERENCE ONLY).

Article 7 (Delinquency Charge)

          When JCOM fails to make payments for the rent or the Miscellaneous
          Expenses or other payments due under the Contract, a delinquency
          charge shall be charged at the rate of 18.25% per annum for the period
          from the date next following the due date to the date of full payment.

Article 8 (Deposit)

      1.  JCOM shall provide Lessor with a deposit of 61,150,320 yen to secure
          the performance of its obligations under this Lease Contract as
          follows: The said deposit shall bear no interest.

          (1) 12,230,064 yen on or before the date of this Lease Contract.

          (2) 48,920,256 yen on or before the effective date of this Lease
              Contract.

      2.  When JCOM fails to perform its obligations hereunder to pay the rent,
          Miscellaneous Expenses, damages, etc., Lessor may apply, at its
          discretion, the said deposit to the settlement of such obligations. In
          this case, JCOM must make up for any resultant deficiency of the
          deposit.

          JCOM is not allowed to request Lessor to apply the said deposit to the
          payment of the rents due or repayment of any of its obligations
          hereunder.

      3.  Lessor shall return to JCOM the security deposit, once this Lease
          Contract has been terminated, JCOM has completely vacated the Leased
          Office Space and has repaid all the obligations to Lessor hereunder.

      4.  JCOM shall neither assign nor encumber its claim on the deposit to the
          third party.

Article 9 (Forbidden Acts)

         JCOM shall not conduct the following acts.

            (1) To assign or encumber the right to lease.

            (2) To sublease the Leased Office Space, in whole or in part,
                (including the common use or sharing of the space) without
                obtaining written approval of Lessor.

            (3) To carry in the leased space any dangerous or heavy objects
                which may cause trouble to others.

            (4) To write letters or put advertisements in and outside the Leased
                Office Space, or to install equipment for such purposes in the
                absence of written approval of Lessor.

            (5) Any acts in breach of the rules and regulations for the use of
                the Building as may be set forth by Lessor.

            (6) Any acts to cause trouble to other tenants or all the acts to
                cause damage to the Building including the Leased Office Space.

Article 10 (Change in and Restoration to the Original State)

      1.  In newly installing, enlarging, removing, changing any fixture or
          equipment in the Leased Office Space, or making changes on or
          restoring to the original state thereof, JCOM shall obtain prior
          written approval from Lessor and have the

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           contractor designated by Lessor to do the work under the supervision
           of Lessor.

           In this case, JCOM shall bear all the expenses as well as any
           resultant taxes and public charges.

       2.  When any tax or public charges are levied resulting from the
           restoration works provided for in the preceding Paragraph, JCOM must
           submit documents as needed to process separate imposition.

Article 11 (Repair)

       1.  When the Leased Office Space, as well as the fixture or equipment
           therein, is in need of repair or any other measures to prevent
           disasters, JCOM must promptly so notify Lessor, and Lessor must
           immediately respond to such request. All the expenses required on
           such occasions shall be borne by Lessor other than those cases
           wherein JCOM is required to pay under Article 6 as well as the cases
           wherein JCOM is responsible for the cause thereof.

       2.  JCOM must provide Lessor with a written advance notice of the manner
           of repair, ever in the case where it is responsible for the repair of
           the Leased Office Space or fixtures and equipments according to the
           terms of this Lease Contract.

Article 12 (Door Keys)

       1.  Lessor shall lend JCOM the door keys and security cards of the Leased
           Office Space in quantity as set forth in the key delivery form which
           Lessor will separately issue. When JCOM wishes to reproduce those
           security cards, it shall so request Lessor after securing prior
           approval thereof. Any expenses required for such reproduction shall
           be borne by JCOM.

       2.  Lessor shall not be held responsible for any damage incurred by JCOM
           as a result of loss or reproduction of the door keys or security
           cards lent by Lessor to JCOM.

Article 13 (Change of Representative, etc.)

           JCOM must promptly notify Lessor of any change in its representative
           or the person responsible for the use of the Leased Office Space, or
           the line or type of its business.

Article 14 (Damages)

           JCOM must compensate Lessor, other residents or the third person for
           any damage caused either intentionally or negligently by JCOM, its
           representative, employee or any other related persons.

Article 15 (Exemption from Liability)

           Lessor shall not be responsible for any damage sustained by JCOM
           resulting from force majeure including an earthquake, fire, natural
           disaster such as storm or flood, theft, disturbance or strike, or any
           breakdown of facilities not attributable to Lessor.

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    (ENGLISH TRANSLATION OF JAPANESE LANGUAGE DOCUMENT FOR REFERENCE ONLY).

Article 16 (Inspection upon Entry)

       1.  Lessor or its agent or employee may enter the Leased Floor Space with
           a proper advance notice to JCOM for purposes of maintenance,
           sanitation, prevention of fire and crimes, relief and protection of
           sufferers, or otherwise when necessary for managing the Building, and
           take appropriate measures as needed. However, in the event of
           emergency such as fire, etc., Lessor may enter the Leased Floor Space
           without permission of JCOM and take measures as needed. In this case,
           Lessor shall make a post facts report to JCOM without delay.

       2.  In the cases of the preceding Paragraph, JCOM shall cooperate with
           Lessor to take such measures.

Article 17 (Extinction of Contract)

           The Contract shall cease to exist when the Building, in whole or in
           part, is destroyed or damaged due to natural disaster, fire or other
           accidents or force majeure not attributable to Lessor, and the Leased
           Floor Space becomes not available for use.

Article 18 (Termination of Lease Contract)

       1.  When JCOM falls under any of the following events, Lessor may
           terminate this Lease Contract without notice.

              (1) When JCOM uses the Leased Floor Space for purposes other than
                  that specified under Article 2.

              (2) When JCOM has not paid for two months or more the rents or the
                  Miscellaneous Expenses as provided for under Article 6.

              (3) When JCOM is in breach of the provisions under Article 9.

              (4) When JCOM has caused substantial damage or fire on the
                  Building out of intention or gross negligence of JCOM or its
                  employee.

              (5) When a petition is filed with respect to JCOM for suspension
                  of banking transactions, dissolution, bankruptcy, corporate
                  reorganization, or corporate restructuring etc., or when it is
                  recognized by Lessor that JCOM has substantially lost its
                  credibility.

              (6) When it is recognized by Lessor that there is any substantive
                  change on the part of JCOM as a party to this Contract as a
                  result of alteration or merger of its organization, type of
                  business, etc.

              (7) When JCOM is in breach of any one of the provisions of this
                  Lease Contract or any contract incidental thereto.

       2.  JCOM must compensate, upon request, for any damage sustained by
           Lessor, even after this Lease Contract is terminated by Lessor.

Article 19 (Evacuation of Leased Office Space and Restoration to the Original
           Condition)

           Upon termination of this Lease Contract, JCOM must vacate the Leased
           Office Space in accordance with the following terms.

              (1) JCOM shall remove the fixture or furnishings which it
                  installed, renew the

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    (ENGLISH TRANSLATION OF JAPANESE LANGUAGE DOCUMENT FOR REFERENCE ONLY).

               ceiling and floor, and paint the wall, of the Leased Office Space
               and thus restore the Leased Office Space to the original
               condition and vacate the space. However, when JCOM has vacated
               the leased space without implementing such works, restoration to
               the original conditions may be done by Lessor at JCOM's expense.

               (2) Lessor may dispose of, at its own discretion and at the
                   expense of JCOM, any belongings of JCOM left behind in the
                   leased space upon vacation, regarding that JCOM has abandoned
                   the ownership thereof.

               (3) JCOM shall not have the right to claim for compensation for
                   moving expense, evacuation fee, or key money or its
                   equivalents for whatever purposes, nor have the right to
                   claim for a refund of the expenses made available for the
                   Leased Office Space, or for a purchase thereof.

               (4) When JCOM does not vacate the Leased Office Space upon
                   termination of this Lease Contract, JCOM shall pay twice the
                   amount of the rents and common charges, as a penalty charge;
                   provided, however, that this shall not release JCOM from
                   compensating Lessor separately for damages sustained by
                   Lessor.

Article 20 (Succession of Position)

       1.  Upon termination of the lease contract between Lessor and the
           Building Owner, Lessor's contractual position under this Lease
           Contract shall be succeeded to by the Building Owner. Lessor shall
           give JCOM no later than six months advance notice of termination of
           the lease contract with the Building Owner and JCOM shall maintain
           this Lease Contract with the Building Owner from the date of
           termination of the lease contract between the Building Owner and
           Lessor.

       2.  Following the succession of the position of Lessor based on the
           preceding paragraph, JCOM shall repay, without delay, the obligations
           owed to Lessor.

       3.  Lessor's obligations to refund the security deposit provided by JCOM
           shall be transferred to the Building Owner, and , after the
           succession, Lessor shall be free from any obligations hereunder.

Article 21 (Designation of Contractor)

       1.  In undertaking the works set forth under each item below, JCOM shall
           place orders with the contractors designated by Lessor.

               (1) Works to make a change of and restore to the original
                   conditions of the leased space under Article 10 and Article
                   19.

               (2) Cleaning of the Leased Floor Space.

       2.  Lessor and JCOM shall confirm the purpose of the proceeding
           paragraph is to secure the quality and execution work done by the
           contractors meets the trade standard. Lessor will accept the
           contractors employed by JCOM in principle as

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           Lessor's designated contractors.

Article 22 (Rules for Use of the Building)

           JCOM must comply with the rules and regulations specified by Lessor
           for the use and management of the Building.

Article 23 (Consumption tax)

           JCOM shall bear an equivalent of consumption tax levied due to this
           Lease Contract and pay it without delay when requested by the
           management company of the Building.

Article 24 (Jurisdiction)

           Any dispute arising between Lessor and JCOM relating to this Lease
           Contract shall be brought to the Tokyo District Court as the
           competent court with jurisdiction.

Article 25 (Matters not covered by this Lease Contract)

           Lessor and JCOM shall discuss and settle in good faith any matters
           not provided for under this Lease Contract, as well as any questions
           as to the interpretation of any of the provisions hereof.

IN WITNESS WHEREOF, Lessor and JCOM have executed this Lease Contract in
duplicate, with each party keeping one copy.

September 18, 1998

     Lessor: Kokyo Tatemono Kabushiki Kaisha
             Chuo-ku, Tokyo

             Yamashita Kohei, President

     Lessee: Jupiter Telecommunications Co., Ltd.
             4-41-24
             Higashi-Ikebukuro, Toshima-ku
             Tokyo

             Tsunetoshi Ishibashi, President

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                          [Diagram of 6TH FLOOR PLAN]

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    (ENGLISH TRANSLATION OF JAPANESE LANGUAGE DOCUMENT FOR REFERENCE ONLY).

                          [Diagram of 7TH FLOOR PLAN]

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    (ENGLISH TRANSLATION OF JAPANESE LANGUAGE DOCUMENT FOR REFERENCE ONLY).

                          [DIAGRAM OF 8TH FLOOR PLAN]

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    (ENGLISH TRANSLATION OF JAPANESE LANGUAGE DOCUMENT FOR REFERENCE ONLY).

                 Amendment of Higashi-Ikebukuro Center Building

                                 Lease Contract

                     Lessor: Kokyo Tatemono Kabushiki Kaisha

                  Lessee: Jupiter Telecommunications Co., Ltd.

                           Amendment to Lease Contract

    This is an amendment to the Higashi-Ikebukuro Center Building Lease Contract
made on September 18, 1998 between Kokyo Tatemono Kabushiki Kaisha as "Lessor"
and Jupiter Telecommunications Co., Ltd. as "JCOM" (hereinafter referred to as
the "Original Contract") as follows.

1.      Article 5 of Original Contract (Rent)

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        Amend "The rent shall be 5,095,860 yen per month, with 11,000 yen per
        tsubo of the Leased Floor Space" to "The rent shall be 4,632,600 yen per
        month, with 10,000 yen per tsubo of the Leased Floor Space".

2.      Amend "a deposit of 61,150,320 yen" to "a deposit of 55,591,200 yen".
        Article 8 of Original Contract (Deposit)

3.      Other than those portions that are amended hereby, Original Contract
        shall remain effective.

4.      This Amendment is effective from September 1, 2000.

IN WITNESS WHEREOF, Lessor and JCOM have executed this Lease Contract in
duplicate, with each party keeping one copy.

June 16, 2000

        Lessor:   Kokyo Tatemono Kabushiki Kaisha
                  Chuo-ku, Tokyo

                  Yamashita Kohei, President

        Lessee:   Jupiter Telecommunications Co., Ltd.
                  4-41-24
                  Higashi-Ikebukuro, Toshima-ku
                  Tokyo

                  Tsunetoshi Ishibashi, President

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    (ENGLISH TRANSLATION OF JAPANESE LANGUAGE DOCUMENT FOR REFERENCE ONLY).

                        Higashi-Ikebukuro Center Building

                                 Lease Contract

                     Lessor: Kokyo Tatemono Kabushiki Kaisha

                  Lessee: Jupiter Telecommunications Co., Ltd.

                                 Lease Contract

        This lease contract (hereinafter referred to as the "Contract") is
hereby made between Kokyo Tatemono Kabushiki Kaisha (hereinafter referred to as
"Lessor") and Jupiter Telecommunications Co., Ltd. (hereinafter referred to as
"JCOM") as to the lease of the office space, as specified in Article 1, leased
from Mr. Taihei Suzuki and Mrs. Tamaki Suzuki.

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    (ENGLISH TRANSLATION OF JAPANESE LANGUAGE DOCUMENT FOR REFERENCE ONLY).

Article 1(Lease and Description of Office Space)

         Lessor hereby leases the office space described below (hereinafter
         referred to as the "Leased Office Space") to JCOM and JCOM leases from
         Lessor the Leased Office Space.

         (1)  Description of Building (hereinafter referred to as the
              "Building")

           Name:                           Higashi-Ikebukuro Center Building
           Location (Residential Address): 4-41-24, Higashi-Ikebukuro,
                                           Toshima-ku, Tokyo
           Structure and scale:            Steel framework, reinforced concrete,
                                           nine floors above ground

         (2)  Description of Leased Office Space

           Of the Building:

            Second floor above ground with the floor space of 510.50 sq. m.
            (154.42 tsubo) (hereinafter referred to as the "Leased Floor
            Space") The Leased Floor Space is the exclusive office space shown
            with the red line on the attached floor plan.

         (3)  Furnishings

            Electric equipment, lighting fixture, telephone wiring, air
            conditioning, security equipment, TV antenna for common use, and
            other furnishings are to be used as is.

Article 2 (Purpose of Use)

         JCOM shall use the Leased Office Space as an office space and for no
         other purposes.

Article 3 (Term of Lease)

      1. The Term of Lease shall be six months from March 18, 2000 to September
         17, 2000.

      2. When JCOM wishes to extend this Lease Contract, JCOM shall so notify
         Lessor in writing to the effect two months prior to the expiration of
         term of lease and get Lessor's consent.

Article 4 (Rent)

         The rent shall be 1,544,200 yen per month, with 10,000 yen per tsubo of
         the Leased Floor Space. JCOM shall pay the next month's rent by wire
         transfer to Lessor's designated bank account by the end of every month,
         and the wire transfer fee shall be borne by JCOM. The rent for periods
         less than a full month shall be prorated by the number of days of the
         relevant month.

Article 5 (Miscellaneous Expenses)

         In addition to the rent provided for in Article 4, JCOM shall bear the
         following expenses (hereinafter referred to as the "Miscellaneous
         Expenses").

              (1) Common charges              4,500 yen per tsubo of the Leased
                                              Floor Space 694,890 yen per month

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            (2) Charges for electricity in the Leased Office Space

            (3) Any expenses required for repairing, maintenance, operations,
                etc. of the fixture and furnishings in the Leased Office Space
                to restore the original conditions thereof in accordance with
                Article 7.

            (4) Any expenses required for minor repairing works and painting for
                maintenance of the ceiling, wall, floor, fixture and equipment
                in the Leased Office Space.

            (5) Any expenses required for repairing works on damage caused
                intentionally or out of negligence by JCOM or its
                representative, or employees or other related parties.

            (6) Any expenses required for cleaning of the Leased Office Space.

            (7) Any other expenses for which JCOM is liable.

         2.  The common charges provided for under Paragraph 1, Item (1) above
             shall be paid in the manner as specified under Article 5 for the
             rent payment, and the other Miscellaneous Expenses shall be paid
             without delay upon request by Lessor or a management company of the
             Building.

Article 6 (Deposit)

         2.  When JCOM fails to perform its obligations hereunder to pay the
             rent, Miscellaneous Expenses, damages, etc., Lessor may apply, at
             its discretion, the deposit which was deposited to Lessor from JCOM
             under Article 8 of Higashi-Ikebukuro Center Building Lease Contract
             signed on September 18, 1998 between Lessor and JCOM, to the
             settlement of such obligations. In this case, JCOM must make up for
             any resultant deficiency of the deposit.

Article 7 (Forbidden Acts)

         JCOM shall not conduct the following acts:

            (1) To assign or encumber the right to lease.

            (2) To carry in the leased space any dangerous or heavy objects
                which may cause trouble to others.

            (3) To write letters or put advertisements in and outside the Leased
                Office Space, or to install equipment for such purposes in the
                absence of written approval of Lessor.

            (4) Any acts to cause trouble to other tenants or all the acts to
                cause damage to the Building including the Leased Office Space.

Article 8 (Change in and Restoration to the Original State)

           In newly installing, enlarging, removing, changing any fixture or
           equipment in the Leased Office Space, or making changes on or
           restoring to the original state thereof, JCOM shall obtain prior
           written approval from Lessor and have the contractor designated by
           Lessor to do the work under the supervision of Lessor.
           In this case, JCOM shall bear all the expenses as well as any
           resultant taxes and public charges.

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Article 9 (Repair)

           When the Leased Office Space, as well as the fixture or equipment
           therein, is in need of repair or any other measures to prevent
           disasters, JCOM must promptly so notify Lessor, and Lessor must
           immediately respond to such request.

           All the expenses required on such occasions shall be borne by Lessor
           other than those cases wherein JCOM is required to pay under Article
           5 as well as the cases wherein JCOM is responsible for the cause
           thereof.

Article 10 (Door Keys)

           Lessor shall lend JCOM the door keys and security cards of the Leased
           Office Space in quantity as set forth in the key delivery form which
           Lessor will separately issue. When JCOM wishes to reproduce those
           security cards, it shall so request Lessor after securing prior
           approval thereof. Any expenses required for such reproduction shall
           be borne by JCOM.

Article 11 (Damages)

           JCOM must compensate Lessor, other residents or the third person for
           any damage caused either intentionally or negligently by JCOM, its
           representative, employee or any other related persons.

Article 12 (Inspection upon Entry)

           Lessor or its agent or employee may enter the Leased Floor Space with
           a proper advance notice to JCOM for purposes of maintenance,
           sanitation, prevention of fire and crimes, or otherwise when
           necessary for managing the Building, and take appropriate measures as
           needed. However, in the event of emergency such as fire, etc., Lessor
           may enter the Leased Floor Space without permission of JCOM and take
           measures as needed. In this case, Lessor shall make a post facts
           report to JCOM without delay.

Article 13 (Termination of Lease Contract)

           1.  When JCOM falls under any of the following events, Lessor may
               terminate this Lease Contract without notice.

                 (1)  When JCOM uses the Leased Floor Space for purposes other
                      than that specified under Article 2.

                 (2)  When JCOM has not paid for two months or more the rents or
                      the Miscellaneous Expenses as provided for under Article
                      5.

                 (3)  When JCOM has caused substantial damage or fire on the
                      Building out of intention or gross negligence of JCOM or
                      its employee.

                 (4)  When JCOM is in breach of any one of the provisions of
                      this Lease Contract or any contract incidental thereto.

           2.  JCOM must compensate, upon request, for any damage sustained by
               Lessor, even after this Lease Contract is terminated by Lessor.

Article 14 (Evacuation of Leased Office Space and Restoration to the Original
           Condition)

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    (ENGLISH TRANSLATION OF JAPANESE LANGUAGE DOCUMENT FOR REFERENCE ONLY).

           Upon termination of this Lease Contract, JCOM must vacate the Leased
           Office Space in accordance with the following terms.

             (1)  JCOM shall remove the fixture or furnishings which it
                  installed, renew the ceiling and floor, and paint the wall, of
                  the Leased Office Space and thus restore the Leased Office
                  Space to the original condition and vacate the space. However,
                  when JCOM has vacated the leased space without implementing
                  such works, restoration to the original conditions may be done
                  by Lessor at JCOM's expense.

             (2)  Lessor may dispose of, at its own discretion and at the
                  expense of JCOM, any belongings of JCOM left behind in the
                  leased space upon vacation, regarding that JCOM has abandoned
                  the ownership thereof.

             (3)  When JCOM does not vacate the Leased Office Space upon
                  termination of this Lease Contract, JCOM shall pay twice the
                  amount of the rents and common charges, as a penalty charge;
                  provided.

Article 15 (Consumption tax)

           JCOM shall bear an equivalent of consumption tax levied due to this
           Lease Contract and pay it without delay when requested by the
           management company of the Building.

Article 16 (Matters not covered by this Lease Contract)

           Lessor and JCOM shall apply each articles in Higashi-Ikebukuro Center
           Building Lease Contract signed on September 18, 1998 between Lessor
           and JCOM, to discuss and settle in good faith any matters not
           provided for under this Lease Contract, as well as any questions as
           to the interpretation of any of the provisions hereof.

                                       5
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    (ENGLISH TRANSLATION OF JAPANESE LANGUAGE DOCUMENT FOR REFERENCE ONLY).

IN WITNESS WHEREOF, Lessor and JCOM have executed this Lease Contract in
duplicate, with each party keeping one copy.

March 17, 2000

        Lessor:   Kokyo Tatemono Kabushiki Kaisha
                  Chuo-ku, Tokyo

                  Yamashita Kohei, President

        Lessee:   Jupiter Telecommunications Co., Ltd.
                  4-41-24
                  Higashi-Ikebukuro, Toshima-ku
                  Tokyo

                  Tsunetoshi Ishibashi, President

                                       6
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    (ENGLISH TRANSLATION OF JAPANESE LANGUAGE DOCUMENT FOR REFERENCE ONLY).

                        Higashi-Ikebukuro Center Building

                                 Lease Contract

                     Lessor: Kokyo Tatemono Kabushiki Kaisha

                      Lessee: Jupiter Telecommunications Co., Ltd.

                                 Lease Contract

         This lease contract (hereinafter referred to as the "Contract") is
hereby made between Kokyo Tatemono Kabushiki Kaisha (hereinafter referred to as
"Lessor") and Jupiter Telecommunications Co., Ltd. (hereinafter referred to as
"JCOM") as to the lease of the office space, as specified in Article 1, leased
from Mr. Taihei Suzuki and Mrs. Tamaki Suzuki (hereinafter collectively referred
to as the "Building Owner").

                                       1
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    (ENGLISH TRANSLATION OF JAPANESE LANGUAGE DOCUMENT FOR REFERENCE ONLY).

Article 1(Lease and Description of Office Space)

         Lessor hereby leases the office space described below (hereinafter
         referred to as the "Leased Office Space") to JCOM and JCOM leases from
         Lessor the Leased Office Space.

         (1)  Description of Building (hereinafter referred to as the
              "Building")

                Name:                           Higashi-Ikebukuro Center
                                                Building
                Location (Residential Address): 4-41-24, Higashi-Ikebukuro,
                                                Toshima-ku, Tokyo
                Structure and Scale:            Steel framework, reinforced
                                                concrete, nine floors above
                                                ground

         (2)  Description of Leased Office Space

                Of the Building:

                   Second floor above ground with the floor space of 510.50 sq.
                   m. (154.42 tsubo) (hereinafter referred to as the "Leased
                   Floor Space") The Leased Floor Space is the exclusive office
                   space shown with the red line on the attached floor plan.

         (3)  Furnishings

                Electric equipment, lighting fixture, telephone wiring, air
                conditioning, security equipment, TV antenna for common use, and
                other furnishings are to be used as is.

Article 2 (Purpose of Use)

         JCOM shall use the Leased Office Space as an office space and for no
         other purposes.

Article 3 (Term of Lease)

      1. The Term of Lease shall be full four months from September 1, 2000 to
         December 31, 2000 and two years each thereafter.

      2. When Lessor or JCOM wishes to terminate this Lease Contract upon
         expiration of the term of lease, either party shall notify the other
         party in writing to the effect six months prior to the expiration.

      3. In the absence of such six months written notice from Lessor or JCOM to
         the other party, this Lease Contract shall be automatically extended
         for another two years. The same shall apply to the term expiration
         thereafter.

Article 4 (Termination of Lease Contract Before Expiration)

         When Lessor or JCOM wishes to terminate this Lease Contract, in whole
         or a part, during the term of the lease, either party must so notify
         the other party in writing six months before termination.
         In this case, however, JCOM may immediately terminate this Lease
         Contract upon payment of an amount equivalent to six months rents in
         lieu of the advance notice specified in the preceding paragraph.

Article 5 (Rent)

      1. The rent shall be 1,544,200 yen per month, with 10,000 yen per tsubo of
         the

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    (ENGLISH TRANSLATION OF JAPANESE LANGUAGE DOCUMENT FOR REFERENCE ONLY).

         Leased Floor Space. JCOM shall pay the next month's rent by wire
         transfer to Lessor's designated bank account by the end of every month,
         and the wire transfer fee shall be borne by JCOM. The rent for periods
         less than a full month shall be prorated by the number of days of the
         relevant month.

     2.  Lessor may revise the rent provided for in the preceding paragraph on
         the renewal date of the Lease Contract through negotiation with JCOM.

     3.  Notwithstanding the above, Lessor may revise the said rent schedule
         through negotiation with JCOM when it considers that the rent is
         inappropriate due to a creation of or a substantial increase in taxes
         and public charges levied on lands and buildings, or substantial
         changes in economic circumstances or improvement of the building
         facilities, or changes in the lease terms between Lessor and the
         Building Owner.

Article 6 (Miscellaneous Expenses)

         In addition to the rent provided for in Article 5, Paragraph 1 above,
         JCOM shall bear the following expenses (hereinafter referred to as the
         "Miscellaneous Expenses").

         (1) Common charges              4,500 yen per tsubo of the Leased Floor
                                         Space
                                         694,890 yen per month

         (2) Charges for electricity in the Leased Office Space

         (3) Any expenses required for repairing, maintenance, operations, etc.
             of the fixture and furnishings in the Leased Office Space to
             restore the original conditions thereof in accordance with Article
             10.

         (4) Any expenses required for minor repairing works and painting for
             maintenance of the ceiling, wall, floor, fixture and equipment in
             the Leased Office Space.

         (5) Any expenses required for repairing works on damage caused
             intentionally or out of negligence by JCOM or its representative,
             or employees or other related parties.

         (6) Any expenses required for cleaning of the Leased Office Space

         (7) Any other expenses for which JCOM is liable.

      2.  The common charges provided for under Paragraph 1, Item (1) above
          shall be paid in the manner as specified under Article 5 for the rent
          payment, and the other Miscellaneous Expenses shall be paid without
          delay upon request by Lessor or a management company of the Building.

      3.  In the event of any increase in the Miscellaneous Expenses including
          upward revision of the public utilities charges or a hike in the
          management fee, Lessor may revise the schedule of the Miscellaneous
          Expenses provided for under Paragraph 1 above through negotiations
          with JCOM.

Article 7 (Delinquency Charge)

          When JCOM fails to make payments for the rent or the Miscellaneous
          Expenses or other payments due under the Contract, a delinquency
          charge shall

                                       3
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    (ENGLISH TRANSLATION OF JAPANESE LANGUAGE DOCUMENT FOR REFERENCE ONLY).

          be charged at the rate of 18.25% per annum for the period from the
          date next following the due date to the date of full payment.

Article 8 (Deposit)

      1.  JCOM shall provide Lessor with a deposit of 18,530,400 yen to secure
          the performance of its obligations under this Lease Contract on or
          before the date of this Lease Contract.
          The said deposit shall bear no interest.

      2.  When JCOM fails to perform its obligations hereunder to pay the rent,
          Miscellaneous Expenses, damages, etc., Lessor may apply, at its
          discretion, the said deposit to the settlement of such obligations. In
          this case, JCOM must make up for any resultant deficiency of the
          deposit. JCOM is not allowed to request Lessor to apply the said
          deposit to the payment of the rents due or repayment of any of its
          obligations hereunder.

      3.  Lessor shall return to JCOM the security deposit, once this Lease
          Contract has been terminated, JCOM has completely vacated the Leased
          Office Space and has repaid all the obligations to Lessor hereunder.

      4.  JCOM shall neither assign nor encumber its claim on the deposit to the
          third party.

Article 9 (Forbidden Acts)

         JCOM shall not conduct the following acts.

           (1)  To assign or encumber the right to lease.

           (2)  To sublease the Leased Office Space, in whole or in part,
                (including the common use or sharing of the space) without
                obtaining written approval of Lessor.

           (3)  To carry in the leased space any dangerous or heavy objects
                which may cause trouble to others.

           (4)  To write letters or put advertisements in and outside the Leased
                Office Space, or to install equipment for such purposes in the
                absence of written approval of Lessor.

           (5)  Any acts in breach of the rules and regulations for the use of
                the Building as may be set forth by Lessor.

           (6)  Any acts to cause trouble to other tenants or all the acts to
                cause damage to the Building including the Leased Office Space.

Article 10 (Change in and Restoration to the Original State)

      1.  In newly installing, enlarging, removing, changing any fixture or
          equipment in the Leased Office Space, or making changes on or
          restoring to the original state thereof, JCOM shall obtain prior
          written approval from Lessor and have the contractor designated by
          Lessor to do the work under the supervision of Lessor. In this case,
          JCOM shall bear all the expenses as well as any resultant taxes and
          public charges.

      2.  When any tax or public charges are levied resulting from the
          restoration works provided for in the preceding Paragraph, JCOM must
          submit documents as

                                       4
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    (ENGLISH TRANSLATION OF JAPANESE LANGUAGE DOCUMENT FOR REFERENCE ONLY).

           needed to process separate imposition.

Article 11 (Repair)

       1.  When the Leased Office Space, as well as the fixture or equipment
           therein, is in need of repair or any other measures to prevent
           disasters, JCOM must promptly so notify Lessor, and Lessor must
           immediately respond to such request. All the expenses required on
           such occasions shall be borne by Lessor other than those cases
           wherein JCOM is required to pay under Article 6 as well as the cases
           wherein JCOM is responsible for the cause thereof.

       2.  JCOM must provide Lessor with a written advance notice of the manner
           of repair, ever in the case where it is responsible for the repair of
           the Leased Office Space or fixtures and equipments according to the
           terms of this Lease Contract.

Article 12 (Door Keys)

       1.  Lessor shall lend JCOM the door keys and security cards of the Leased
           Office Space in quantity as set forth in the key delivery form which
           Lessor will separately issue. When JCOM wishes to reproduce those
           security cards, it shall so request Lessor after securing prior
           approval thereof. Any expenses required for such reproduction shall
           be borne by JCOM.

       2.  Lessor shall not be held responsible for any damage incurred by JCOM
           as a result of loss or reproduction of the door keys or security
           cards lent by Lessor to JCOM.

Article 13 (Change of Representative, etc.)

           JCOM must promptly notify Lessor of any change in its representative
           or the person responsible for the use of the Leased Office Space, or
           the line or type of its business.

Article 14 (Damages)

           JCOM must compensate Lessor, other residents or the third person for
           any damage caused either intentionally or negligently by JCOM, its
           representative, employee or any other related persons.

Article 15 (Exemption from Liability)

           Lessor shall not be responsible for any damage sustained by JCOM
           resulting from force majeure including an earthquake, fire, natural
           disaster such as storm or flood, theft, disturbance or strike, or any
           breakdown of facilities not attributable to Lessor.

Article 16 (Inspection upon Entry)

           Lessor or its agent or employee may enter the Leased Floor Space with
           a proper advance notice to JCOM for purposes of maintenance,
           sanitation, prevention of fire and crimes, relief and protection of
           sufferers, or otherwise when necessary

                                       5
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    (ENGLISH TRANSLATION OF JAPANESE LANGUAGE DOCUMENT FOR REFERENCE ONLY).

           for managing the Building, and take appropriate measures as needed.
           However, in the event of emergency such as fire, etc., Lessor may
           enter the Leased Floor Space without permission of JCOM and take
           measures as needed. In this case, Lessor shall make a post facts
           report to JCOM without delay.

       2.  In the cases of the preceding Paragraph, JCOM shall cooperate with
           Lessor to take such measures.

Article 17 (Extinction of Contract)

           The Contract shall cease to exist when the Building, in whole or in
           part, is destroyed or damaged due to natural disaster, fire or other
           accidents or force majeure not attributable to Lessor, and the Leased
           Floor Space becomes not available for use.

Article 18 (Termination of Lease Contract)

       1.  When JCOM falls under any of the following events, Lessor may
           terminate this Lease Contract without notice.

           (1)  When JCOM uses the Leased Floor Space for purposes other than
                that specified under Article 2.

           (2)  When JCOM has not paid for two months or more the rents or the
                Miscellaneous Expenses as provided for under Article 6.

           (3)  When JCOM is in breach of the provisions under Article 9.

           (4)  When JCOM has caused substantial damage or fire on the Building
                out of intention or gross negligence of JCOM or its employee.

           (5)  When a petition is filed with respect to JCOM for suspension of
                banking transactions, dissolution, bankruptcy, corporate
                reorganization, or corporate restructuring etc., or when it is
                recognized by Lessor that JCOM has substantially lost its
                credibility.

           (6)  When it is recognized by Lessor that there is any substantive
                change on the part of JCOM as a party to this Contract as a
                result of alteration or merger of its organization, type of
                business, etc.

           (7)  When JCOM is in breach of any one of the provisions of this
                Lease Contract or any contract incidental thereto.

       2.  JCOM must compensate, upon request, for any damage sustained by
           Lessor, even after this Lease Contract is terminated by Lessor.

Article 19 (Evacuation of Leased Office Space and Restoration to the Original
           Condition)

           Upon termination of this Lease Contract, JCOM must vacate the Leased
           Office Space in accordance with the following terms.

           (1)  JCOM shall remove the fixture or furnishings which it installed,
                renew the ceiling and floor, and paint the wall, of the Leased
                Office Space and thus restore the Leased Office Space to the
                original condition and vacate the space. However, when JCOM has
                vacated the leased space without implementing such works,
                restoration to the original conditions may be done by Lessor at

                                       6
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    (ENGLISH TRANSLATION OF JAPANESE LANGUAGE DOCUMENT FOR REFERENCE ONLY).

                JCOM's expense.

           (2)  Lessor may dispose of, at its own discretion and at the expense
                of JCOM, any belongings of JCOM left behind in the leased space
                upon vacation, regarding that JCOM has abandoned the ownership
                thereof.

           (3)  JCOM shall not have the right to claim for compensation for
                moving expense, evacuation fee, or key money or its equivalents
                for whatever purposes, nor have the right to claim for a refund
                of the expenses made available for the Leased Office Space, or
                for a purchase thereof.

           (4)  When JCOM does not vacate the Leased Office Space upon
                termination of this Lease Contract, JCOM shall pay twice the
                amount of the rents and common charges, as a penalty charge;
                provided, however, that this shall not release JCOM from
                compensating Lessor separately for damages sustained by Lessor.

Article 20 (Succession of Position)

       1.  Upon termination of the lease contract between Lessor and the
           Building Owner, Lessor's contractual position under this Lease
           Contract shall be succeeded to by the Building Owner. Lessor shall
           give JCOM a six months advance notice of termination of the lease
           contract with the Building Owner and JCOM shall maintain this Lease
           Contract with the Building Owner from the date of termination of the
           lease contract between the Building Owner and Lessor.

       2.  Following the succession of the position of Lessor based on the
           preceding paragraph, JCOM shall repay, without delay, the obligations
           owed to Lessor.

       3.  Lessor's obligations to refund the security deposit provided by JCOM
           shall be transferred to the Building Owner, and , after the
           succession, Lessor shall be free from any obligations hereunder.

Article 21 (Designation of Contractor)

           In undertaking the works set forth under each item below, JCOM shall
           place orders with the contractors designated by Lessor.

           (1)  Works to make a change of and restore to the original conditions
                of the leased space under Article 10 and Article 19.

           (2)  Cleaning of the Leased Floor Space.

           (3)  Moving.

Article 22 (Rules for Use of the Building)

           JCOM must comply with the rules and regulations specified by Lessor
           for the use and management of the Building.

Article 23 (Consumption tax)

           JCOM shall bear an equivalent of consumption tax levied due to this
           Lease Contract and pay it without delay when requested by the
           management company

                                       7
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    (ENGLISH TRANSLATION OF JAPANESE LANGUAGE DOCUMENT FOR REFERENCE ONLY).

           of the Building.

Article 24 (Jurisdiction)

           Any dispute arising between Lessor and JCOM relating to this Lease
           Contract shall be brought to the Tokyo District Court as the
           competent court with jurisdiction.

Article 25 (Special Clause)

           The Lease Contract for Higashi-Ikebukuro Center Building dated March
           12, 2000 shall be terminated on the date on which this Lease Contract
           takes effect.

Article 26 (Matters not covered by this Lease Contract)

           Lessor and JCOM shall discuss and settle in good faith any matters
           not provided for under this Lease Contract, as well as any questions
           as to the interpretation of any of the provisions hereof.

IN WITNESS WHEREOF, Lessor and JCOM have executed this Lease Contract in
duplicate, with each party keeping one copy.

June 16, 2000

     Lessor: Kokyo Tatemono Kabushiki Kaisha

             Chuo-ku, Tokyo

             Yamashita Kohei, President

     Lessee: Jupiter Telecommunications Co., Ltd.
             4-41-24
             Higashi-Ikebukuro, Toshima-ku
             Tokyo

             Tsunetoshi Ishibashi, President

                                       8
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    (ENGLISH TRANSLATION OF JAPANESE LANGUAGE DOCUMENT FOR REFERENCE ONLY).

                          [DIAGRAM OF 2ND FLOOR PLAN]

                                  *    *    *

                                 REPRESENTATION

     The undersigned certifies that the foregoing is a fair and accurate
English translation of the original Japanese language document.

                                   /s/ Tsunetoshi Ishibashi
                                   _______________________________________
                                   Tsunetoshi Ishibashi
                                   Chairman<PAGE>   1

                                                                    EXHIBIT 10.3

     (ENGLISH TRANSLATION OF JAPANESE LANGUAGE DOCUMENT FOR REFERENCE ONLY)

                                    FORM OF
             AGREEMENT ON GRANT OF SUBSCRIPTION RIGHTS OF NEW SHARES

Jupiter Telecommunications Co., Ltd. (hereinafter referred to as "A") and
____________ (hereinafter referred to as "B") hereby agree as follows as to the
grant of subscription rights based on the resolutions of A's shareholders'
meeting on August 23, 2000 and A's board of directors' meeting on the same day.

Article 1 (Grant of Subscription Rights)

           On September 11, 2000, A shall grant B subscription rights of new
           shares with specifics as follows (hereinafter referred to as "the
           Subscription Rights").

           (1)  Distinction between par value shares and non-par value shares,
                as well as the type of the shares to be issued:

                Common non-par value shares issued by A (hereinafter referred to
                as the "Shares")

           (2)  Number of shares to be issued (hereinafter referred to as
                "number of shares granted"):

                ___ shares

           (3)  Issue price per share:

                276,000 yen per share

           (4)  Exercise period:

                        The exercise period shall be from September 11, 2000 to
                        August 23, 2010, provided, however, that the
                        Subscription Rights shall be exercisable only when A's
                        stock certificates have been registered with the Japan
                        Securities Dealers Association or listed on any of the
                        stock exchanges, and, further provided, that for the
                        period between September 11, 2000 and September 11,
                        2001, the Subscription Rights shall be exercisable only
                        when the provisions under Article 2, Paragraph 2, Item 3
                        are applicable.

       2.  In any of the following cases, the specifics of the Subscription
           Rights shall be adjusted, restricted or invalidated, subject to the
           provisions in the attachment 1.

           (1)  When A's stocks become subject to stock split (including
                capitalization of profits available for dividend payments or
                capital reserve; the same applies hereinafter) or reverse stock
                split.

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     (ENGLISH TRANSLATION OF JAPANESE LANGUAGE DOCUMENT FOR REFERENCE ONLY)

           (2)  When A issues new shares (except for the cases of conversion of
                convertible bonds and the exercise of the rights under the
                subscription certificate of new shares and Subscription Rights
                pursuant to Article 280-19 of the Commercial Code) at a price
                below the market value (however, prior to the public offering of
                A's shares, this provision shall apply by substituting the
                market price with the unadjusted issue price at the time).

           (3)  When A issues the securities convertible to stock or the
                securities with the rights to subscribe new shares at a price
                below the market price (however, prior to the public offering of
                A's shares, this provision shall apply by substituting the
                market price with the unadjusted issue price at the time).

           (4)  When A merges with any other company or a new company
                incorporated for consolidation, or implements a stock swap or
                stock transfer, or if any other adjustments become necessary.

Article 2 (Number of Shares on Which the Subscription Rights are Exercisable by
Different Exercise Period)

       1.  When A's stocks have been registered with the Japan Securities
           Dealers Association or have been listed on any of the stock
           exchanges, B may exercise the Subscription Rights, including the
           shares on which the Subscription Rights have already been exercised,
           for different periods to the extent of the proportions as specified
           as follows. If, under each Item below, the number of shares on which
           B may exercise the Subscription Rights is a fraction less than one
           share, the number shall be rounded up to one share. Furthermore, when
           the number of shares granted, on which the Subscription Rights have
           not been exercised, is adjusted under Article 1, Paragraph 2 above,
           the extent of the exercisable proportions as specified below shall be
           appropriately calculated for such number of shares including the
           number of shares on which the Subscription Rights were exercised
           before such adjustments.

           (1)  For the period from September 12, 2001 to September 11, 2002,
                the Subscription Rights are exercisable for one fourth of the
                number of shares granted.

           (2)  For the period from September 12, 2002 to September 11, 2003,
                the Subscription Rights are exercisable for two fourths of the
                number of shares granted.

           (3)  For the period from September 12, 2003 to September 11, 2004,
                the Subscription Rights are exercisable for three fourths of the
                number of shares granted.

           (4)  For the period from September 12, 2004 to August 23, 2010, the
                Subscription Rights are exercisable for all the number of shares
                granted.

                                       2
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     (ENGLISH TRANSLATION OF JAPANESE LANGUAGE DOCUMENT FOR REFERENCE ONLY)

       2.  The provisions of the preceding Paragraph shall not apply in any of
           the following cases. However, Subscription Rights on all shares
           granted shall become exercisable after September 12, 2001 under Item
           1 or Item 2, and immediately under Item 3.

           (1)  Article 6 Paragraph 3 (long-continued disease, etc.) or Article
                6, Paragraph 4 (retirement under the age limit),

           (2)  B dies and the Subscription Rights are inherited under Article
                7, Paragraph 1, or

           (3)  The board of directors of A determines that the total number of
                shares owned, directly or indirectly, by corporate groups each
                of which owns, directly or indirectly, twenty percent (20%) or
                more of the outstanding shares of A as of the date hereof falls
                below one third of the then outstanding shares of A and that it
                is appropriate not to apply the provisions of the preceding
                Paragraph, and B is notified to that effect.

Article 3 (Exercise of the Subscription Rights)

       1.  The Subscription Rights may be exercised for an integral multiple of
           the number of one share.

       2.  B shall, when it exercises the Subscription Rights, complete the
           "Request Form for New Share Issue" as prescribed by A, and submit the
           form signed and sealed to the Human Resources Department of A.

       3.  B shall credit in cash the entire amount of the issue price of the
           shares to be acquired through the exercise of the Subscription Rights
           to A's designated account by the date specified by A.

       4.  If any withholding tax on the economic benefits available upon the
           exercise of the Subscription Rights shall be withheld by A, B shall
           credit an amount equal to such tax to A's designated account by the
           date specified by A, according to A's demand for payment.

Article 4 (Treatment of Dividends)

           The first or interim dividend payments on the shares issued pursuant
           to exercise of the Subscription Rights shall be made regarding that
           the shares are issued on January 1 of the relevant year for the
           exercise of the Subscription Rights between January 1 and June 30,
           and on July 1 of the relevant year for the exercise of the
           Subscription Rights between July 1 and December 31 of each year.

Article 5 (Consignment of Custody of Stock Certificates)

           A shall deliver the stock certificates acquired by B through the
           exercise of the Subscription Rights directly to B's account wherein
           those stock certificates are managed ( which is referred to as the
           "Account" in the following Paragraph) to be opened by B in its own
           name with the securities company designated by A (hereinafter
           referred to as the "Designated Securities Company").

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     (ENGLISH TRANSLATION OF JAPANESE LANGUAGE DOCUMENT FOR REFERENCE ONLY)

       2.  B shall consign a custody of the stock certificates to the Designated
           Securities Company, in accordance with the standard terms of the
           Account.

Article 6 (Forfeiture of the Subscription Rights)

       1.  In any of the events listed below, B shall immediately forfeit the
           Subscription Rights without going through formalities. The same shall
           apply when B falls under Article 6, Paragraph 2, Paragraph 3 or
           Paragraph 4 below and subsequently falls under any item of this
           Paragraph.

           (1)  When B ceases to be an officer (which means a director or an
                auditor; the same applies hereafter) of A or an A's group
                company, due to dismissal or the equivalent thereto;

           (2)  When B becomes an officer, employee or consultant, etc. of a
                company competing with A (excluding A's group company) except
                for the case where A's board of directors has approved it;

           (3)  When B is in breach of laws or internal regulations or duty of
                loyalty to A;

           (4)  When B is in breach of the provisions of this Agreement; or

           (5)  When B offers to A in the form designated by A to waive all or a
                part of the Subscription Rights granted hereunder, or to cancel
                this Agreement.

       2.  B shall forfeit the Subscription Rights on the date as specified
           under each item for the number of shares as follows, if B ceases to
           be an officer or employee of A or an A's group company due to an
           expiration of the term of office, a voluntary resignation, or the
           equivalent thereto, provided, however, that if at A's board of
           directors meeting a decision that all or part of the provisions in
           this Paragraph is not applicable to the extent that such decision
           shall not adversely affect B's rights is made, then such decision
           shall prevail and the contents of such decision shall be applied,
           and, further provided, that under Paragraph 1 of this Article, the
           date of forfeiture of the Subscription Rights is later than the final
           date of the exercise period (i.e., August 23, 2010; hereinafter
           referred to as the "Final Date of the Exercise Period") provided for
           under Article 1, Paragraph 1, Item (4) above, B shall forfeit the
           Subscription Rights on the Final Date of the Exercise Period.

           (1)  For the number of shares granted on which the Subscription
                Rights are exercisable under Article 2, Paragraph 1 on the date
                of loss of the position:

                On the 30th day following the date of such loss of the position.

           (2)  For the number of shares granted on which the Subscription
                Rights are not exercisable under Article 2, Paragraph 1 on the
                date of loss of the position:

                On the date of such loss of the position.

       3.  When B ceases to be an officer or employee of A or an A's group
           company due to a long-continued disease or the equivalent thereto, B
           shall forfeit the Subscription Rights on the date 12 months after the
           date of loss of the position,

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     (ENGLISH TRANSLATION OF JAPANESE LANGUAGE DOCUMENT FOR REFERENCE ONLY)

           or September 12, 2001, whichever comes later. However, when the date
           of forfeiture of the Subscription Rights is later than the Final Date
           of the Exercise Period, B shall forfeit the Subscription Rights on
           the Final Date of the Exercise Period.

       4.  When B ceases to be an officer or employee of A or an A's group
           company due to retirement under age limit, B shall forfeit the
           Subscription Rights on the date 24 months or such other extended
           period as may be approved by the board of directors of A after the
           date of loss of the position, or September 12, 2001, whichever comes
           later. However, when the date of forfeiture of the Subscription
           Rights is later than the Final Date of the Exercise Period, B shall
           forfeit the Subscription Rights on the Final Date of the Exercise
           Period. Even if B falls under any of Paragraph 1 through Paragraph 3
           above, the provision of this paragraph shall be applicable if A's
           board of directors meeting has approved to that effect.

       5.  The scope of A's group company provided for under Paragraph 1 through
           Paragraph 4 above shall comprise the subsidiaries prescribed by the
           rules on consolidated financial statements and affiliated companies
           determined by A's board of directors meeting, unless A's board of
           directors meeting has decided to exclude the relevant company from
           A's group company for the purpose of this Agreement.

Article 7 (Inheritance of the Subscription Rights)

       1.  When B dies, B's heirs may exercise the unexercised Subscription
           Rights on the condition that such heirs shall be bound by the
           provisions of this Agreement and other terms and conditions to be
           determined by A, except for the case where B shall have submitted to
           A in the form designated by A before B dies to the effect that B does
           not desire to have his/her heirs exercise the Subscription rights
           granted hereunder.

       2.  If there are more than one heir, B's heirs who shall inherit the
           Subscription Rights granted hereunder should be limited to one person
           (hereinafter referred to as "Successor"), provided, however, that
           more than one heirs may be Successors if the Board of Directors of A
           specifically so approves.

       3.  When the Successor(s) dies after the succession of the Subscription
           Rights, the Subscription Rights shall not be succeeded to by a
           successor and thus shall immediately cease to exist without going
           through formalities.

       4.  The exercise period for the unexercised Subscription Rights inherited
           by the Successor under Paragraph 1 of this Article shall expire 12
           months after the date of inheritance or September 12, 2001 whichever
           comes later (hereinafter referred to as the "Succession Period");
           provided, however, that, if B had fallen

                                       5
<PAGE>   6
     (ENGLISH TRANSLATION OF JAPANESE LANGUAGE DOCUMENT FOR REFERENCE ONLY)

           under Article 6, Paragraph 2, Paragraph 3 or Paragraph 4 above before
           B died, the exercise period shall expire on the date of forfeiture of
           the Subscription Rights, the Final Date of the Succession Period or
           the Final Date of the Exercise Period, all of which were applicable
           to B prior to the death, whichever is the first to come.

       5.  The Successor, or in case of being more than one Successors all
           Successors, must submit to A the following documents or their
           respective equivalents or the report on the following matters without
           delay after the date of succession:

           (1)  A copy of a family register (limited to one issued within 3
                months);

           (2)  A certificate of the seal impression of the Successor (limited
                to one issued within three months);

           (3)  Agreement on division of the estate, or any other evidence to
                show the division of the estate;

           (4)  Any document to confirm the name(s) and address(es) of the
                Successor(s) and, if any Successor resides in a foreign country
                domestic; and

           (5)  Any other documents or matters specified by A.

       6.  When B's heirs fail to reach agreement on division of the estate,
           they shall report to that effect to A in the name of their
           representative without delay. In this case, the documents provided
           for under the preceding Paragraph shall be submitted to A upon
           reaching agreement among the heirs.

       7.  Under Paragraph 1 above, "B" shall be translated to the "B's
           Successor," to whom each provision under this Agreement except that
           this Article shall apply to the extent that the application shall not
           run counter to the effect of such provisions.

Article 8 (Prohibition of Disposition of the Subscription Rights)

           B may not assign, pledge or dispose of the Subscription Rights, in
           whole or in part, to the third party.

Article 9 (Expenses)

           B shall bear all the taxes and other expenses arising in connection
           with the acquisition of the stocks following the exercise of the
           Subscription Rights, as well as the sale or disposal of the stocks
           acquired by B.

Article 10 (Compliance with Related Laws and Internal Regulations)

           For the exercise of the Subscription Rights, sale of stocks issued by
           A, purchase of stocks, etc. before and after such sale, B shall
           comply with the Securities Exchange Law, Commercial Code, Tax Law and
           other related laws and regulations, as well as A's internal rules on
           insider tradings and other internal regulations.

                                       6
<PAGE>   7
     (ENGLISH TRANSLATION OF JAPANESE LANGUAGE DOCUMENT FOR REFERENCE ONLY)

Article 11 (Waiver of Any Claim for Damages)

           B shall not make any claim for indemnification, extra profits,
           damages or any other liability against A, A's directors, etc. and the
           Designated Security Company in relation to this Agreement,
           irrespective of any reasons.

Article 12 (Notice)

        1. Any notice from A to B under this Agreement shall be made by means of
           telephone, in writing or by email to a department to which B belongs
           so long as B remains as an officer or employee of A or an affiliate
           company of A. When B ceases to be an officer or employee of A or an
           affiliate company of A for reasons except for a death, B shall notify
           Human Resources Department of A in writing of its contact place for
           every change thereof. If the whereabouts and contact place become
           uncertain due to B's failure in making such notice, any notice from A
           to B shall be deemed to have been effectively given under this
           Agreement when such notice is put in place at A's Human Resources
           Department.

       2.  Any notice from B to A under this Agreement shall be made in writing
           to A's Human Resources Department.

Article 13 (Amendments to This Agreement)

           In the event of any amendments to related laws and regulations
           including the Commercial Code, Securities Exchange Law, Tax Law, etc.
           after the conclusion of this Agreement, and if A considers it
           necessary to make amendments to this Agreement, B shall agree to the
           amendment made by B.

Article 14 (Right to Establish Detailed Rules)

       1.  A may establish "detailed rules regarding the agreement on the grant
           of Subscription rights of new shares" (hereinafter referred to as
           "detailed rules") and make amendment to or abolish detailed rules.

       2.  A shall notify to the public the establishment, amendment, or
           abolishment of detailed rules immediately after A made it in
           accordance with the provision of the preceding Paragraph.

       3.  The notice to the public as stipulated in the preceding Paragraph
           shall be made by posting the relevant contents on a bulletin board in
           A's Head Office.

       4.  B or its Successor may request A to see detailed rules during A's
           business hours and make copies thereof at its own expense.

Article 15 (Treatment of Matters not Provided for Under This Agreement)

                                       7
<PAGE>   8
     (ENGLISH TRANSLATION OF JAPANESE LANGUAGE DOCUMENT FOR REFERENCE ONLY)

           A and B shall discuss and determine in good faith any matters not
           provided for under this Agreement.

IN WITNESS WHEREOF, A and B have executed this Agreement in duplicate, with A
keeping the original and B its copy.

September 11, 2000

         A: Jupiter Telecommunications Co., Ltd.
         x-chome xx - x
         Higashi-Ikebukuro, Toshima-ku
         Tokyo

         ----------------
         Tsunetoshi Ishibashi
         President

         B:
         Address:
                  ---------------------------
         Name:                                seal
                  ---------------------------

                                       8
<PAGE>   9
     (ENGLISH TRANSLATION OF JAPANESE LANGUAGE DOCUMENT FOR REFERENCE ONLY)

Exhibit

1.      A shall make adjustments specified as follows when A conducts stock
        split (including capitalization of profits available for dividend
        payments or capital reserve; the same applies hereinafter) or reverse
        stock split.

        1)      Of the number of shares granted as specified under Article 1,
                Paragraph 1, Item 2 of the Agreement on Grant of Subscription
                Rights of New Shares (hereinafter "number of shares granted"),
                the number of unexercised shares granted shall be adjusted using
                the following calculation formula, and any fractions smaller
                than one share resulting from the adjustment shall be omitted.

                        Adjusted number of shares granted = Unadjusted number of
                        shares granted multiplied by the ratio of (stock split
                        or reverse stock split)

        2)      The issue price as specified under Article 1, Paragraph 1, Item
                3 of the Agreement on Grant of Subscription Rights of New Shares
                (hereinafter the "issue price") shall be adjusted using the
                following calculation formula, and any fractions smaller than
                one yen resulting from the adjustment shall be rounded off.

                        Adjusted issue price per share = Unadjusted issue price
                        per share multiplied by degrees=1/ratio of (stock split
                        or reverse stock split)

        3)      The adjustments as specified under 1) and 2) above shall be
                applicable from the next day and thereafter following the
                scheduled date of rights offering for the stock split or from
                the next day and thereafter following the expiration of a
                certain period as provided for under Article 215, Paragraph 1 of
                the Commercial Code (which will apply to Article 220, mutatis
                mutandis), if the date of rights offering for the stock split is
                not scheduled or in the case of reverse stock split. However,
                any adjustments in the case of stock split for dividend payments
                shall be made in the manner as may be otherwise specified by A.

2.      When A issues new shares (except for the cases of conversion of
        convertible bonds and the exercise of the rights under the subscription
        certificate of new shares and Subscription Rights pursuant to Article
        280-19 of the Commercial Code) at a price below the market value
        (however, prior to the public offering of A's shares, this provision
        shall apply by substituting the market price with the unadjusted issue
        price at the time), adjustment shall be made as follows:

        1)      Of the number of shares granted, unexercised number of shares
                shall be adjusted using the following calculation formula and
                any fractions smaller than one share resulting from the
                adjustment shall be omitted.

                        Adjusted number of shares granted = (Unadjusted number
                        of shares granted X Unadjusted issue price)/Adjusted
                        issue price
<PAGE>   10
     (ENGLISH TRANSLATION OF JAPANESE LANGUAGE DOCUMENT FOR REFERENCE ONLY)

        2)      The issue price shall be adjusted using the following
                calculation formula and any fractions smaller than one yen shall
                be rounded off.

                        Adjusted issue price = Unadjusted issue price multiplied
                        by [Number of issued shares + (Number of newly issued
                        shares X Price paid per share)/Market price]/(Number of
                        issued shares + Number of newly issued shares)

                a)      The "Market Price" used in the calculation formula shall
                        be, when A's shares are registered with the Japan
                        Securities Dealers Association, the average price of the
                        most recent purchase and sales price of A's common
                        shares at 3 p.m. of each day (except for the day when no
                        trading is made) announced by the Japan Securities
                        Dealers Association during the 30 days starting on the
                        45th trading day prior to the initial day of
                        "Application date of adjustment" stipulated in 3) below,
                        and when A's shares are listed on any of the stock
                        markets, it shall be the average price of the daily
                        closing price of regular transaction at the stock market
                        during the above 30 trading days (except for the day
                        when no trading is made). Any fraction less than one yen
                        shall be rounded up.

                b)      "Number of issued shares" to be used in the calculation
                        formula shall be the number of issued shares on the date
                        of allotment to the shareholders if there is such date,
                        or the date one month prior to "Application date of
                        adjustment." in all other cases, as stipulated under 3)
                        below.

        3)      The adjustment stipulated under 1) and 2) shall be applicable
                from the next day following the payment deadline (if there is a
                date for shareholders allotment, then the date next day
                following such date).

3.      When A issues securities convertible to stock or securities with a right
        to subscribe new shares at a price below the market value (however,
        prior to the public offering of A's shares, this provision shall apply
        by substituting the market price with the unadjusted issue price at the
        time), the number of shares granted and the issue price shall be
        adjusted properly according to the previous provision.

4.      When A merges with any other company or a new company incorporated for
        consolidation, or implements a stock swap or stock transfer, or if any
        other adjustments become necessary, A may make reasonable adjustments as
        needed to the number of shares granted, issued price, exercise period
        and others, as well as limit the exercise of the right and invalidate
        unexercised subscription rights of new shares.
<PAGE>   11
     (ENGLISH TRANSLATION OF JAPANESE LANGUAGE DOCUMENT FOR REFERENCE ONLY)

                                   MEMORANDUM

Jupiter Telecommunications Co., Ltd. (hereinafter referred to as "A") and
______________ (hereinafter referred to as "B") hereby agree to amend the below
provisions of the Agreement on Grant of Subscription Rights of New Shares
(hereinafter referred to as the "Agreement") between A & B, dated September 11,
2000, and its Exhibit, according to the resolutions of A's extraordinary
shareholders' meeting held on September 19, 2000, and A's board of directors'
meeting held on the same day, as follows:

--------------------------------------------------------------------------------
                                Before Amendment
--------------------------------------------------------------------------------
Agreement

Article 1 (Grant of Subscription Rights)

2.  In any of the following cases, the specifics of the Subscription Rights
    shall be adjusted, restricted or invalidated, subject to the provisions in
    the attachment.

    (1)  When A merges with any other company or a new company incorporated for
         consolidation, or implements a stock swap or stock transfer, or if any
         other adjustments become necessary.me subject to stock split (including
         capitalization of profits available for dividend payments or capital
         reserve; the same applies hereinafter) or reverse stock split.

    (2)  When A issues new shares (except for the cases of conversion of
         convertible bonds and the exercise of the rights under the subscription
         certificate of new shares and Subscription Rights pursuant to Article
         280-19 of the Commercial Code) at a price below the market value
         (however, prior to the public offering of A's shares, this provision
         shall apply by substituting the market price with the unadjusted issue
         price at the time).

    (3)  When A issues the securities convertible to stock or the securities
         with the rights to subscribe new shares at a price below the market
         price (however, prior to the public offering of A's shares, this
         provision shall apply by substituting the market price with the
         unadjusted issue price at the time).

    (4)  When A merges with any other company or a new company incorporated for
         consolidation, or implements a stock swap or stock transfer, or if any
         other adjustments become necessary.

--------------------------------------------------------------------------------
                                 After Amendment
--------------------------------------------------------------------------------
Agreement

Article 1 (Grant of Subscription Rights)

In any of the following cases, the specifics of the Subscription Rights shall be
adjusted, restricted or invalidated, subject to the provisions in the
attachment.

    (1)  When A's stocks become subject to stock split (including capitalization
         of profits available for dividend payments or capital reserve; the same
         applies hereinafter) or reverse stock split.

    (2)  When A merges with any other company or a new company incorporated for
         consolidation, or implements a stock swap or stock transfer, or if any
         other adjustments become necessary.

    (3)  When A issues 2,622,857.16 new shares by shareholder allotment at the
         issue price of one yen per share, with September 28, 2000 as the
         allotment date, pursuant to the resolution of the board of directors'
         meeting on September 12, 2000.

[Deletion of (2) and (3) of Article 1, Section 2; shifting (4) up to (2);
addition of (3)]

                                       1
<PAGE>   12
     (ENGLISH TRANSLATION OF JAPANESE LANGUAGE DOCUMENT FOR REFERENCE ONLY)

--------------------------------------------------------------------------------
                                Before Amendment
--------------------------------------------------------------------------------
Exhibit

2.  When A issues new shares (except for the cases of conversion of convertible
    bonds and the exercise of the rights under the subscription certificate of
    new shares and Subscription Rights pursuant to Article 280-19 of the
    Commercial Code) at a price below the market value (however, prior to the
    public offering of A's shares, this provision shall apply by substituting
    the market price with the unadjusted issue price at the time), adjustment
    shall be made as follows:

    1)   Of the number of shares granted, unexercised number of shares shall be
         adjusted using the following calculation formula and any fractions
         smaller than one share resulting from the adjustment shall be omitted.

         Adjusted number of shares granted = (Unadjusted number of shares
         granted X Unadjusted issue price)/Adjusted issue price

    2)   The issue price shall be adjusted using the following calculation
         formula and any fractions smaller than one yen shall be rounded off.

         Adjusted issue price = Unadjusted issue price multiplied by [Number of
         issued shares + (Number of newly issued shares X Price paid per
         share)/Market price]/(Number of issued shares + Number of newly issued
         shares)

         a) The "Market Price" used in the calculation formula shall be, when
            A's shares are registered with the Japan Securities Dealers
            Association, the average price of the most recent purchase and sales
            price of A's common shares at 3 p.m. of each day (except for the day
            when no trading is made) announced by the Japan Securities Dealers
            Association during the 30 days starting on the 45th trading day
            prior to the initial day of "Application date of adjustment"
            stipulated in 3) below, and when A's shares are listed on any of the
            stock markets, it shall be the average price of the daily closing
            price of regular transaction at the stock market during the above 30
            trading days (except for the day when no trading is made). Any
            fraction less than one yen shall be rounded up.

         b) "Number of issued shares" to be used in the calculation formula
            shall be the number of issued shares on the date of allotment to the
            shareholders if there is such date, or the date one month prior to
            "Application date of adjustment." in all other cases, as stipulated
            under 3) below.

    3)   The application date of the adjustment stipulated under 1) and 2) shall
         be date next following the payment deadline (if there is a date for
         shareholders allotment, then the date next following such date).

3.  When A issues securities convertible to stock or securities with a right to
    subscribe new shares at a price below the market value (however, prior to
    the public offering of A's shares, this provision shall apply by
    substituting the market price with the unadjusted issue price at the time),
    the number of shares granted and the issue price shall be adjusted properly
    according to the previous provision.

4.  When A merges with any other company or a new company incorporated for
    consolidation, or implements a stock swap or stock transfer, or if any other
    adjustments become necessary, A may make reasonable adjustments as needed to
    the number of shares granted, issued price, exercise period and others, as
    well as limit the exercise of the right and invalidate unexercised
    subscription rights of new shares.

--------------------------------------------------------------------------------
                                 After Amendment
--------------------------------------------------------------------------------
Exhibit

2.  When A merges with any other company or a new company incorporated for
    consolidation, or implements a stock swap or stock transfer, or if any other
    adjustments become necessary, A may make reasonable adjustments as needed,
    without granting additional substantial financial benefit to B, to the
    number of shares granted, issued price, exercise period and others, as well
    as limit the exercise of the right and invalidate unexercised subscription
    rights of new shares.

3.  When A issues 2,622,857.16 new shares by shareholder allotment at the issue
    price of one yen per share, with September 28, 2000 as the allotment date,
    pursuant to the resolution of the board of directors' meeting on September
    12, 2000, the number of shares subscribed shall be adjusted to three times
    the original number and the issue price to 92,000 yen, following the day
    after the payment date of the new shares.

(Deletion of sections 2 and 3, shifting section 4 up to 2 and addition of the
underlined part; addition of section 3)

                                       2
<PAGE>   13
     (ENGLISH TRANSLATION OF JAPANESE LANGUAGE DOCUMENT FOR REFERENCE ONLY)

IN WITNESS WHEREOF, A and B have executed this Agreement in duplicate, with A
keeping the original and B its copy.

September 20, 2000

                             A:
                                   ---------------------------
                                   Tsunetoshi Ishibashi, Chairman
                                   Jupiter Telecommunications Co., Ltd.
                                   4-42-24 Higashi-Ikebukuro, Toshima-ku Tokyo

                             B:    Name:
                                        --------------------------------------

                                   Address:
                                           -----------------------------------

                                       3

                                  *    *    *

                                 REPRESENTATION

     The undersigned certifies that the foregoing is a fair and accurate
English translation of the original Japanese language document.

                                   /s/ Tsunetoshi Ishibashi
                                   _______________________________________
                                   Tsunetoshi Ishibashi
                                   Chairman

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