Japan’s DoCoMo enters Latin America after investing $2.55 million to form a subsidiary in Brazil
Japanese operator NTT DoCoMo is set to widen its international footprint after announcing plans to establish a business in Brazil, which will become its first presence in Latin America.
The company is investing 5.1 million BRL (approximately $2.55 million) to open the wholly-owned subsidiary which will be based in Sáo Paulo. Like the Singapore subsidiary that DoCoMo announced in November, its Brazilian operation will focus on providing services for Japanese corporate customers in the country, as well as researching business opportunities in other parts of the fast-growing Latin American market.
DOCOMO Brasil Serviços de Telecomunicaçáo will be headed up by company president Hiroaki Obuchi, and will initially have a head count of just two people.
Brazil and Japan have strong ties. Japanese immigrants began arriving in the country in the early part of the twentieth century and Brazil has the largest population of Japanese citizens in the world, outside of Japan, of course. Although somewhat dated, figures from 2000 estimated that at least 1.4 million people of Japanese descent resided in Brazil.
DoCoMo has businesses and investments in a range of international countries across Asia, Europe and North America. Given the growth of the Web and smartphones in Latin America — the Wall Street Journal recently dubbed Brazil “the social media capital of the universe” — it is not surprising to see it extend its presence to the continent.
Source: The Next Web