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Last Updated: Thursday, 14 December 2006, 12:47 GMT
EMI to increase presence in Japan
Toshiba-EMI website
Toshiba's sale of the stake marks its exit from the market
EMI, the British music company is to buy out its partner in the music content business Toshiba-EMI, to increase its sales in Japan.

The joint venture has suffered from declining CD sales as consumers have rapidly switched to digital downloads.

EMI hope to improve CD sales and increase its share of Japan's music market, the world's second largest.

Toshiba's exit from the market should earn the firm 13bn yen ($110m; 56m) profits for the year to April 2008.

Revenue for Toshiba-EMI has been falling in recent years due to intensifying competition in the Japanese music market from online retailers.

Napster launched its music service in October this year whilst Apple launched its online music store iTunes in 2005.

Toshiba-EMI, whose artists include the Japanese rock band Glay and the pop star Utada Hikaru, said that it would keep its current brand name for now.


SEE ALSO
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