DoCoMo embarks on debt reduction exercise

10 Sep 2003

Japanese wireless giant NTT DoCoMo says it plans to utilise a portion of its substantial cash reserves to pay off some of its JPY1.3 trillion (USD11.2 billion) debt pile. However, according to the Financial Times its hopes could be hampered by Japan’s poor financial climate where blue-chip borrowers are in short supply and financial institutions are keen to retain customers such as DoCoMo.