DoCoMo mulls move into finance

16 May 2006

Japanese mobile giant NTT DoCoMo is considering plans to diversify its operations into finance and other industries to offset slowing growth in its mobile business, according to a statement from its vice president of multimedia services Takeshi Natsuno. ‘If DoCoMo is a mobile phone company in five years, our growth will be limited,’ he said in an interview. ‘My expectation is to make DoCoMo a more diversified company.’ Natsuno oversaw the launch of the world’s first internet browsing technology for cell phones in 1999, and only last month unveiled the company’s new DCMX credit card service that lets customers use handsets to pay for goods and services such as groceries and taxis. DoCoMo expects DCMX to generate annual sales of up to JPY100 billion (USD912 million) in three years. He views the credit card service as the cellco’s gateway into the financial markets, which could lead to other ventures within the retail and other industries.