December 28, 2004, 8:23 AM — NTT DoCoMo Inc., Japan's biggest mobile operator, plans to invest a total of US$8.2 million in two Chinese companies as part of a bid to increase its presence in the Chinese telecommunications market, the company said Monday.
DoCoMo plans to invest $4 million in newly issued stock for an undisclosed stake in Emcore Technology Inc. DoCoMo is making that investment because Emcore has a subsidiary, Beijing Lingtu Spacecom Technology Co. Ltd., that provides location-based services, the Tokyo company said in a statement.
DoCoMo will share its location-based services expertise with Lingtu Spacecom and will gain a toehold in China's growing market for mobile services, the statement said.
The Japanese mobile operator also plans to invest $4.2 million in newly issued stock for an undisclosed stake in Digital Media Group Co. Ltd. (DMG), which has a subsidiary called Beijing Eastlong Technology Development Co. Ltd., it said in a separate statement released Monday.
Eastlong produces and distributes digital advertisements, content and services available on subway trains and in stations in Shanghai, DoCoMo said. Through Eastlong, DMG plans to expand its digital media business using wireless technologies to distribute content to subway stations and trains throughout China, it said.
The investment in DMG will help DoCoMo build a presence in Chinese businesses that combine digital content and wireless technologies, DoCoMo said.