Technology Industry
Industry: Email Alert RSS FeedToyota sells J-Phone stakes.
RCR Wireless News, April, 2001
TOKYO--Toyota Motor Corp. sold its stakes in three regional wireless companies to Japan Telecom for an undisclosed amount, international press reports said. J-Phone Communications is Japan's second-largest mobile carrier and is owned 54 percent by Japan Telecom. Toyota held 1.97 percent of J-Phone East, 1.98 percent of J-Phone Central and 5 percent of J-Phone West, three regional companies of J-Phone.
Reports said the sale would allow Toyota to focus on its partnership with Japanese carrier KDDI, in which it holds a stake, to develop in-car wireless communications systems. Vodafone Group plc owns 26 percent of J-Phone, and British Telecommunications plc owns 20 percent. Japan Telecom issued options to BT to buy stakes amounting to nearly 5...
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