KDDI Corporation (KDDI株式会社) (TYO: 9433) is one of the biggest telecommunications operator in Japan. It has its headquarters in the Garden Air Tower in Iidabashi, Chiyoda, Tokyo. KDDI continues to promote its 3M Strategy, comprised of the concepts of Multi-Use, Multi-Network, and Multi-Device, in the aim of achieving a lifestyle revolution where customers can enjoy daily lives that are more convenient and fulfilling through the power of communications.
KKBOX Inc. signed a definitive agreement to sell its majority shareholdings to KDDI. Under the agreement, KDDI will purchase 76 percentage shareholdings in KKBOX on December 24th 2010 while the management team continues to own the remaining 24% of the company. After the completion of this acquisition KKBOX will become a consolidated subsidiary of KDDI.
KDDI, through this acquisition, utilizing the service delivery platform and know-how of KKBOX, aims to provide new contents service for Smartphone users, and also intends to enter into China-market thorough the already established business platform of KKBOX around the region