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Technology Stocks : Qualcomm Moderated Thread - please read rules before posting

QCOM 159.42

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Jan 16 9:30 AM EST

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To: Ramsey Su who started this subject	7/29/2000 4:52:38 PM
From: Caxton Rhodes	Read Replies (1) of 197254

Japan's DDI to invest US$336 million in cellular units By Reuters staff 28 July 2000 DDI Corp, a major Japanese long-distance and mobile carrier, said on Friday it was investing about 40 billion yen in three of its cell-phone units to pave the way for a new nationwide cellular service. DDI said its seven unlisted cellular phone companies in Japan will merge on November 1 to provide a seamless nationwide cell phone service to compete with industry giant NTT DoCoMo Inc The 40 billion yen ($360 million) is being spent before that date to acquire new shares issued by the three units whose debts currently exceed their assets, a DDI spokeswoman said. By mid-August, DDI will acquire new shares worth 6.5 billion yen to be issued by Tohoku Cellular and new shares worth 14 billion yen to be issued by Hokuriku Cellular. It has already acquired new shares worth 19 billion yen issued by Shikoku Cellular, the spokeswoman said. The merger will not affect DDI's earnings forecast for the year to March 2001, she said. In May, DDI forecast group net profit of 21 billion yen for 2000/01 against an actual net loss of 10.47 billion yen a year earlier. Under the plan, Kansai Cellular will be the surviving company, while the other six cellular units will be dissolved. The merged firm aims to form strong ties with KDDI, the firm that will be formed in October by a merger between DDI, IDO Corp, an unlisted cell-phone unit of Toyota Motor Corp, international carrier KDD Corp DDI said on Friday it would consider making the merged cellular phone unit a 100 percent-owned subsidiary of KDDI by exchanging shares by March 2001. DDI has total eight cellular units in Japan including Okinawa Cellular Telephone Co.

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