[eccr] Shares in NTT DoCoMo begin trading in London and New York

Shares in NTT DoCoMo, creator of the popular i-mode mobile internet service,
begin trading in London and New York on Friday. The mobile operator is one
of Japan's biggest success stories of recent years and is now aiming to
create a global brand.

NTT DoCoMo's Japanese triumph has rested on its i-mode mobile internet
technology, which allows users to download data such as texts and pictures.

More than 30 million people - or 25% of the Japanese population - are hooked
into the i-mode. 

But there is a big question hanging over the overseas popularity of the
phone and the shares of its maker.

The stock is unconventionally heavy by London standards, and is on offer at
£7,947. 

3G premier 

NTT DoCoMo is the first telecoms firm in the world to offer 3G as a
commercial service.

It began to roll out the high speed services in Tokyo last October, and is
set to expand to most major Japanese cities by April.

The appeal of data services to Japanese customers stands in contrast to the
initial hesitancy of mobile users in the US and Europe.

But, with the Japanese market close to saturation, NTT DoCoMo is determined
to translate its domestic success overseas.

Fund raising 

NTT DoCoMo is the biggest component of the Tokyo Stock Exchange by market
capitalisation. 

The international listing will create a framework to make it easier for
foreign buyers to invest in the stock.

The move is also being seen as a prelude for its parent company, NTT, to
reduce its own holding from 64% in future.

Furthermore, NTT DoCoMo would be able to finance future overseas expansion
plans by raising funds on the London and New York markets.

The firm's chief executive Keiji Tachikawa will be in New York for the share
debut. 

The new listings will not involve the sale of any new shares.

Physical arrival 

I-mode's arrival in Europe is not only limited to shares.

In Europe, NTT DoCoMo signed deals last autumn licensing its high-speed
picture download technology to the Netherlands' KPN Mobile, Belgium's KPN
Orange and Germany's E-Plus.

The i-mode is set to launch in Germany, Belgium and Holland in just weeks
and in the UK by the end of the year.

Plans for the US are still undecided.

Source: 
http://news.bbc.co.uk/go/em/-/hi/english/business/newsid_1848000/1848147.stm

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