DoCoMo shares crash

NTT DoCoMo is wallowing in an all time low after its share price slipped for the third session in a row.

DoCoMo is the highest valued telco on the Tokyo Stock Exchange and has a market capitalisation of Y12.7trillion (£72bn).

It is not known why DoCoMo's stocks or those of other Japanese telcos have crashed as analysts have stated there is nothing fundamentally wrong with their balance sheets, business outlooks or bottom lines, nor plans for future mobile technologies.

At the beginning of trade DoCoMo was down 5.93 per cent to Y1.27m (£7,231), its lowest since April 1999.

Japan Telecom shares fell by Y30,000 (£249) (9.8 per cent), to Y278,000 (£2,311) today.

J-Phone - the mobile subsidiary owned by Japan Telecom - has added 184,700 mobile phone subscribers over August, 80 per cent more growth than August 2000.