NTT DoCoMo Inc (DCM) has been trading at all-time lows as I reported earlier this month. Now that DoCoMo is increasingly being viewed as a value play, it may be breaking out of its trading funk. Its ordinary shares (Tokyo: 9437) shot up 3.51% today to close at 177,000 yen on strong volume not seen since a breakout on January 5th this year when it traded at 193,000 yen. Converting its ordinary shares using an exchange rate of Y117/US$1 and accounting for its ADR listing ratio of 100:1, its Friday close in Tokyo equals $15.13, where its currently trading in the U.S. intraday, up 4.27%.
A Nikkei Shimbun article published today cites number portability, which will be available in Japan this fall, and Softbank's (SFTBF.PK) forthcoming market entry via its purchase agreement of Vodafone (VOD) as having kept downward pressure on DoCoMo's share price.
DCM 1-yr chart: