Japan firm to spin off unit offering sales promotion via fax, mobile phone.

From: Kyodo News International (Tokyo, Japan) | Date: July 7, 2004 | Copyright information

Jul. 7--TOKYO -- Recruit Co. said Wednesday it will spin off its sales promotion business using fax and mobile phones in October to swiftly provide new services in the rapidly changing environment of information technology.

The new company, Nexway, is scheduled to be established Oct. 1 with a capital of 300 million yen. NTT Data Corp. will invest in the new company to own a 15 percent stake, while Recruit will take the remaining 85 percent.

Recruit officials said they expect NTT Data will provide assistance in the area of information technology for the new company to ...

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