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Wednesday, 10th November 2010
In Business In Japan,

Vodafone to leave Japanese market

Telecommunications company Vodafone has confirmed that it plans to sells its remaining interest in the Japanese market.

The company is now set to offload Vodafone Japan for £3.1 billion as it opts to focus on operations in India, Africa and Europe.

Vodafone also revealed that its forecast for the year's profits has increased to between £11.8 billion and £12.2 billion, compared to previous estimates of £11.2 billion and £12 billion.

It is expected that Vodafone will sell its remaining Japanese operations to Softbank, with the first instalment of £1.6 billion to be paid this December.

In September, the company withdrew from the Chinese market and sold its stake in China Mobile for £2.4 billion - which has helped to boost this year's profit expectations.

NTT DOCOMO, a key mobile operator in Japan, has announced plans to launch an i-mode version of its marketplace. The new service will allow around 48 million consumers using i-mode handsets to access mobile applications, music and electronic books.

Written by Mark Smith.