Not too surprising that other video networks are attempting to break into the rather reticent .jp market. The number of online video sites are quite limited to almost non-existent in .jp. Outside of youtube, the only well known online video site is Nico Nico video (which used youtube at one point but got kicked off and created its own backend).
I think J-Stream is simply a streaming video solution from a server viewpoint (kinda like Real Networks), so adding Brightcove to the mix would increase the web presence for video in .jp. Of course, the bigger challenge will be determining how to monetize video in .jp. The media companies differ drastically from the ones in the states and have long standing relationships with local media outlets in being able to distribute content. However, I do think that the somewhat fear (like the US) a youtube/google dominated market. So this is where a player like Brightcove KK can make an impact.
On another note, it is interesting to say that J-Stream is above my office (I work in the Transcosmos building). In fact, my company has a kind of partnership in the US with Brightcove so at least we're almost guaranteed to be doing the analytical features in the near future for them in .jp.
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