Willcom to hive off new business from exiting PHS operation

18 Oct 2010

Kyodo News writes that under its proposed rehabilitation plan bankrupt personal handyphone system (PHS) provider Willcom intends to rebuild its existing PHS building whilst hiving off a new business for faster next-generation services. The separation plan is core to the proposal submitted to the Tokyo District Court, the company has said. As such, Willcom intends to revive its Tier 2 PHS business, which continues to enjoy popularity and new users among the medical community due to its low electromagnetic radiation emission, while a new company set up by Softbank and investment fund Advantage Partners LLP will take over the next-generation PHS services. Willcom hopes to swing into the black on an operating basis in the financial year ending 31 March 2014, by streamlining operations under the leadership of Ken Miyauchi, the senior executive vice president of Softbank Mobile Corp. who will take the helm at Willcom, as president.

Japan