Softbank E-commerce Corp., a wholly owned unit of Softbank Corp., announced its intention Tuesday to postpone the launch of eS! Music Corp., an online music providing service, and to stop supporting Internet businesses of small and midsize firms under the SmartAge name.
Ken Miyauchi, president of Softbank E-commerce, said, "Judging from the business results of other firms, it will take us a certain amount of time to post profits through music providing services," suggesting his company will wait until the high-speed mobile network spreads further.
As for SmartAge, Miyauchi said Softbank's U.S. partner altered its business model and halted the operation.
Softbank E-commerce decided in November to abandon plans to team up with U.S. Internet commerce company Priceline.com Inc., only three months after the deal had been struck.
The two companies were to operate an Internet auction site in Japan and provide travel-related products, including flight tickets and hotel reservations.