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Ownership change coming for cell phone business

Date Posted: 2004-06-24

American Investment Company Car-Life Group, together with portable telephone manufacturer Kyocera, are buying their own cell phone business.

Announcement was made this week that KDDI will sell its PHS phone business for ¥220,000,000,000. PHS phone service is down as standard cellular phones are becoming more popular because of the photo and video features offered.

At the same time, there’s a role for PHS, say the new owners. They’re cheap to buy and maintain, and new data telecommunication services will soon be available.

Car-Life President Tamotsu Adachi says “I believe the feature for PHS phones and the DDI packet, the data service, has good points and features.

The new company is expected to be set up and operational by October 1. At that time, both Kyocera and Car-Life Company will disappear. KDDI has 81% of the stock in the PHS phone company, while Kyocera has 13%. Under the new plan, Union Company will have 60%, Kyocera 30% and KDDI 10%.

DDI-Pocket users total some 2,900,000, and the company expects that number to grow.

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