Japan's Mixi network site says entering China

0 Comments | AFP, February, 2008

TOKYO (AFP) — Japan's hugely popular online social networking site Mixi said Wednesday it planned to expand into China, whose growing number of Internet users are already being courted by Rupert Murdoch's MySpace.

Mixi Inc., which has quickly developed into a top social outlet for Japanese young people since its creation in 2004, said it would set up a subsidiary in Shanghai in April or May.

"We see China as a market that has huge potential for the Internet, including in mobile wireless Internet services," a Mixi statement said.

"In terms of the future growth of our business, overseas expansion provides an important opportunity to expand revenue," it said.

Mixi Shanghai Inc. will have initial capital of 2.7 million dollars and decide later on which...