There is essentially no restriction on foreign investments in Japan鈥檚 telecommunications sector. As examples, Vodafone was able to acquire almost 100% of the Japan Telecommunications Group, which at that time owned about 20% of Japan鈥檚 telecommunication services markets, could completely restructure Japan Telecommunications, sell the fixed line part of the company to a global private equity fund, take the remaining wireless communications company J-Phone private and incorporate J-Phone as a wholly owned integral part of the global Vodafone Group.
Other examples of major foreign investments in Japan鈥檚 telecommunications sector at different points in time are British Telecom (BT), which owned part of the Japan Telecommunications Group, and Cable & Wireless which also owned a major telecommunications enterprise in Japan.
However, essentially all foreign investments and ownership of Japan鈥檚 telecommunications operators were not commercially successful under foreign ownership, and essentially all were directly or indirectly sold to SoftBank.
