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DoCoMo to become Tower Records Japan's main shareholder

Telecomworldwire, Nov 7, 2005

TELECOMWORLDWIRE-7 November 2005-DoCoMo to become Tower Records Japan's main shareholder(C)1994-2005 M2 COMMUNICATIONS LTD http://www.m2.com

Details of an agreement which will make NTT DoCoMo Inc, a Japanese mobile operator, the main shareholder in the Tower Records Japan Inc music retail chain, have been unveiled.

An investment of around JPY10bn is planned by DoCoMo for an approximately 40% stake in Tower Records Japan, which will represent the operator's first acquisition of a non-mobile-related retailer. Tower Records Japan is separate from Tower Records in the US and is run independently.

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The new music download service to be introduced by Tower Records next spring will be promoted through the venture, alongside DoCoMo's wallet phone service. The wallet phone enables mobile phones to be used like debit cards, allowing users to make purchases for CDs, for example, using a swipe of their phone.

((Comments on this story may be sent to tww.feedback@m2.com))

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