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Mobile phone price wars set to commence?

Softbank has announced that starting next Tuesday, it will waive its 980 monthly fee for five months for all customers who switch from another carrier and sign up for the company’s popular White Plan. Until July, Softbank had led all carriers in new subscriptions for 26 consecutive months, though NTT DoCoMo moved in front last month. This move looks designed to put Softbank back on top of that list.

Following the announcement, share prices for all three of Japan’s major mobile carriers fell, with Softbank falling 40 yen per share to 2,075. Also on Thursday, the Nikkei reported that Softbank is set to issue about 60 billion yen worth of three year notes to retail investors, with a coupon around 4.5%, sometime in September. Softbank also issued 60 billion yen worth of two year notes back in June.

Over the past three years, Softbank has increased its number of subscribers from about 15 million to 20 million, though it still trails industry leader DoCoMo’s 55 million subscriptions and AU’s 31 million.

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