SoftBank-backed OYO is continuing its global expansion by foraying into Japan with a housing rental service targeting Japanese students and young professionals.The service, called OYO Life , will be available from the beginning of next month and will be offered by OYO Technology & Hospitality Company, Japan, the joint venture entity between OYO and Yahoo Japan Hiro Katsuse , former Japan market leader for Handy and Booking.com, has been appointed as the chief executive of the joint venture.This comes after piloting a few properties in the capital city of Tokyo, ET had reported in October last year. Sources had told ET at the time that Japan could be the company’s next major market, after India and China.The decision to enter the Japanese market has also been driven by the anticipated growth in the country’s hospitality sector, which is expected to witness significant growth over the next year, given that Tokyo is scheduled to host the 2020 Summer Olympic Games.OYO said the service will combine Yahoo’s marketing and distribution capabilities with OYO’s ability to manage rental housing properties with the help of technology."After successfully growing our business in our home markets, India and China, and expanding our presence to nine countries, we are really excited about commencing our operations in our third and potentially the largest home market - Japan. This new entity will be focused on creating unique living experiences for the Japanese citizens, students, and young professionals, looking for good quality affordable accommodations, starting with our fully managed homes brand - OYO LIFE" said Ritesh Agarwal, CEO & Founder, OYO Hotels and Homes.OYO Life will offer fully furnished homes comprising of essential amenities like furniture, Wi-Fi connectivity, television, electronic household appliances, regular housekeeping, CCTV surveillance and digitally enabled locks for additional security and 24/7 assistance, at no extra costs.OYO said that it takes full responsibility of managing their property, including regular maintenance and upkeep of their properties, while ensuring guaranteed rental incomes to homeowners.The Gurugram-based hospitality chain , which recently raised a $1-billion funding round from a consortium of investors including SoftBank and ride-hailing majors Didi Chuxing and Grab, has been on a global expansion spree. Over the past year, it has entered markets like the United States, Saudi Arabia, Philippines, United Arab Emirates, and Sri Lanka among others, The company claims to have over half a million rooms across the world.