Mobile carrier NTT DoCoMo buys Tower Records Japan

June 11, 2012
NTT DoCoMo staff prepare for the company's 2011 summer model press preview in Tokyo. Japan's top mobile carrier NTT DoCoMo said it will make Tower Records Japan a subsidiary to enhance its online sales of CDs and DVDs.

Japan's top mobile carrier NTT DoCoMo said Monday it will make Tower Records Japan a subsidiary to enhance its online sales of CDs and DVDs.

DoCoMo, which already holds 42.1 percent of the music store chain, will increase its stake to 50.3 percent by mid-July for an undisclosed price.

"By establishing Tower Records Japan as a subsidiary, expects to capitalise on the envisioned growth of e-commerce triggered by the proliferation of smartphones and tablets," the mobile firm said in a statement.

Tower Records operates 89 stores in Japan, in addition to an online music shop.

Explore further: NTT, Rakuten to start online auction co.

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