Two handset sales firms to merge
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Two major Japanese mobile phone sales firms, Telepark Corp and MS Communications Co, said Thursday they will merge on Oct 1. The move is designed to strengthen operations at a time when the nation’s mobile phone market is becoming saturated.
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Each share in MS Communications, a joint venture between traders Mitsubishi Corp and Sumitomo Corp, will be exchanged for 21.9 shares in Telepark, a unit of trader Mitsui & Co. The merged company, T-Gaia Corp, will target sales of one trillion yen in the year ending in March 2012.
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