Softbank Corp. will acquire smaller domestic rival eAccess Ltd. through a stock swap deal valued at $2.3 billion, or ¥180 billion-the Tokyo-based company's latest move in Japan's smartphone war.
Softbank, one of Asia's largest Internet conglomerates, said the swap ratio gives eAccess a value of ¥52,000 per share. It also gives eAccess's issued shares a value of about ¥180 billion.
The deal will help eAccess and Softbank's unit, Softbank Mobile, utilize each other's available bandwidth to better cope with the increasing volume of data traffic that has accompanied the proliferation of smartphones.
The deal will allow Softbank to use eAccess's spectrum for its high-speed network called long-term evolution, or LTE. Carriers around the world are adopting LTE technology for their next-generation wireless network. Softbank sells Apple's new iPhone 5, which supports LTE technology.
The number of people who committed suicide in Japan in 2012 was 27,858, dropping below 30,000 for the first time in 15 years, the Cabinet Office said in a white paper on Tuesday. The figure was 2,800 fewer than in 2011. (Japan Today )
A collection of materials related to a 17th century mission sent by a Japanese feudal lord to Europe and the world's oldest autographic diary left 10 centuries ago by a Japanese regent have been selected for the UNESCO Memory of the World registry, the Japanese education ministry said Wednesday. (Global Post )
Almost 1,500 people were transported to hospitals by ambulance due to heatstroke last week, up sharply from 942 in the preceding week, the Fire and Disaster Management Agency said Tuesday. (Japan Times )
Among about 200,000 traffic signals nationwide, 16 percent are being used beyond the end of the expected lifetime of their electrical systems and some have even toppled over due to age, according to the National Police Agency. (Yomiuri )
In May, Akira Ikoma, the editor of a guide to men's entertainment called Ore no Tabi (My Journey), said that "Abenomics" had caused a spike in prices at high-end soapland bathhouses in Tokyo. However, the same editor tells Shukan Post (June 28) that the initiative is not impacting the low-end market in the same way. (Tokyo Reporter )