NTT Docomo Buyout Brings Japan Inc. Consolidation Back in Focus
(Bloomberg) — Talk of what could be this year’s biggest deal and the largest tender offer in Japanese corporate history is reviving speculation that consolidation will increase for Japan Inc.
Shares of subsidiaries at Nippon Telegraph & Telephone Corp. such as NTT Data Corp. and XNET Corp. gained Tuesday after the Nikkei reported that NTT plans to buy out its mobile phone carrier unit NTT Docomo Inc. through a tender offer.
“This is a significant message to the Japanese market,” said Naoki Fujiwara, the chief fund manager at Shinkin Asset Management Co. “These are two very notable parent-subsidiary companies that everyone knows about.”
© Bloomberg
Buyout report spurs gains in NTT Data, XNET
![graphical user interface, chart: Buyout report spurs gains in NTT Data, XNET](https://www.msn.com/{"default":{"load":"default","w":"80","h":"45","src":"//img-s-msn-com.akamaized.net/tenant/amp/entityid/BB19w84U.img?h=450&w=799&m=6&q=60&o=f&l=f"},"size3column":{"load":"default","w":"62","h":"35","src":"//img-s-msn-com.akamaized.net/tenant/amp/entityid/BB19w84U.img?h=351&w=624&m=6&q=60&o=f&l=f"},"size2column":{"load":"default","w":"62","h":"35","src":"//img-s-msn-com.akamaized.net/tenant/amp/entityid/BB19w84U.img?h=351&w=624&m=6&q=60&o=f&l=f"}})
News of the deal comes as some of Japan’s “parent-child listings,” in which both the parent and its unit are listed entities, have taken steps to consolidate or divest amid criticism that the practice ignores minority shareholders’
![a sign on a pole: The logo of NTT is didplayed at a building in Tokyo](https://www.msn.com/{"default":{"load":"default","w":"80","h":"58","src":"//img-s-msn-com.akamaized.net/tenant/amp/entityid/BB19vonB.img?h=575&w=799&m=6&q=60&o=f&l=f"},"size3column":{"load":"default","w":"62","h":"45","src":"//img-s-msn-com.akamaized.net/tenant/amp/entityid/BB19vonB.img?h=449&w=624&m=6&q=60&o=f&l=f"},"size2column":{"load":"default","w":"62","h":"45","src":"//img-s-msn-com.akamaized.net/tenant/amp/entityid/BB19vonB.img?h=449&w=624&m=6&q=60&o=f&l=f"}})
![FILE PHOTO: The logo of NTT Docomo is seen during its flagship shop's reopening event in Tokyo](https://www.msn.com/{"default":{"load":"default","w":"80","h":"52","src":"//img-s-msn-com.akamaized.net/tenant/amp/entityid/BB19vV5L.img?h=524&w=799&m=6&q=60&o=f&l=f"},"size3column":{"load":"default","w":"62","h":"41","src":"//img-s-msn-com.akamaized.net/tenant/amp/entityid/BB19vV5L.img?h=410&w=624&m=6&q=60&o=f&l=f"},"size2column":{"load":"default","w":"62","h":"41","src":"//img-s-msn-com.akamaized.net/tenant/amp/entityid/BB19vV5L.img?h=410&w=624&m=6&q=60&o=f&l=f"}})
![a group of people standing next to a sign: Pedestrians cross a road in front of an NTT Docomo Inc. store in Tokyo, Japan, on Wednesday, April 24, 2019. Docomo this month cut prices on its mobile phone data plans, some by as much as 40 percent, responding to government pressure to reduce prices that it says are among the world's highest.](https://www.msn.com/{"default":{"load":"default","w":"80","h":"53","src":"//img-s-msn-com.akamaized.net/tenant/amp/entityid/BB19vqCB.img?h=533&w=799&m=6&q=60&o=f&l=f&x=1325&y=754"},"size3column":{"load":"default","w":"62","h":"42","src":"//img-s-msn-com.akamaized.net/tenant/amp/entityid/BB19vqCB.img?h=417&w=624&m=6&q=60&o=f&l=f&x=1325&y=754"},"size2column":{"load":"default","w":"62","h":"42","src":"//img-s-msn-com.akamaized.net/tenant/amp/entityid/BB19vqCB.img?h=417&w=624&m=6&q=60&o=f&l=f&x=1325&y=754"}})