DoCoMo buys Tower Records stake

8 Nov 2005

Japanese cellco NTT DoCoMo has purchased a 42% stake in Tower Records Japan for JPY12.8 billion (USD108.2 million). The cellco hopes to offer new e-money and credit card functions for its 3G customers through the 78 music stores operated by Tower Records across the country, which will enable them to buy CDs and receive discount vouchers at the shops by paying via their handsets.