U.S.-based Goldman Sachs Group Inc. will invest some 25 billion yen in eMobile Ltd., the cell phone unit of Japanese broadband services firm eAccess Ltd., the cell phone company said Thursday.

Goldman Sachs' investment arm will buy new shares of eMobile to be issued under a third-party share allocation scheme, the company said.

It said eAccess aims to enter the cell phone business in the 1.7-gigahertz band, which the government is expected to assign to cell phone operators in the near future.

The cell phone company said it plans to launch a high-speed data communications service in metropolitan areas in March 2007. The service will gradually expand with the introduction of voice calls nationwide about a year later.

EAccess applied for a license to conduct third-generation mobile phone business Thursday afternoon from the International Affairs and Communications Ministry.

Chairman Sachio Senmoto told a news conference that the firm is setting its sights on securing a 10 percent share of the mobile market in five years.

For the project, eMobile needs 300 billion yen to set up base stations and other facilities and plans to invest another 100 billion yen for developing handsets and promotional activities, eAccess said.

EAccess has already pledged some 30 billion yen to eMobile, while commercial TV station Tokyo Broadcasting System Inc. has promised about 10 billion yen, it said.

EAccess said it is discussing with Goldman Sachs other possible means of support by the financial group, including property acquisition for base stations and content supply.