November 6, 2005
NTT DoCoMo to acquire 40 percent stake in Tower Records Japan
NTT DoCoMo Inc has agreed to purchase a 40 percent stake in Tower Records Japan Inc., making it the largest shareholder in the top retailer of music software, the online edition of the Nihon Keizai Shimbun reported at the weekend, without citing its sources, reports Forbes.
"The acquisition will effectively put Tower Records Japan under the control of the cellular phone service operator, the business daily said.
In their first business tie-up, DoCoMo will try to expand the number of subscribers using its cell phone offering e-money and credit card functions through the 78 music stores operated nationwide by Tower Records.
The phones will allow DoCoMo subscribers to buy CDs and receive discount vouchers at the shops without using cash, the Nikkei said. Tower Records will try to put the shopping data generated from the electronic sales to good use in its own marketing, it added."
Picture from bounce.
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