th and weaknesses of different proposed technologies, and comparisons were made. Major parameters of interest to the ministry were maximum transmission rates, network coverage and maximum possible number of subscribers served. The three candidates were required to provide detailed technology analysis using both theoretical and practical means. This meant that the three companies had to build experimental systems in the Tokyo area and conduct drive tests to verify theoret- ical results. The parties had to also submit and present reports on how successful commercial and experimental roll-outs of their proposed systems were in other markets. In the case of IPMobile for example, the results of TD-CDMA standard's commercial roll-outs in New Zealand and Germany were analysed and submitted. After the technology comparison had been made, the companies were asked to provide detailed project and business plans, to demonstrate that they were capable of building and operating the necessary infrastructure for telecommunications services. The information required by the ministry included: Network and end-user equipment suppliers Network roll-out plans, cell planning companies, the necessary equipment suppliers Details of roll-out plan, the number of base stations, place, cost Target market and marketing plans Investment details, including investors details and conditions It was highly improbable that IPMobile should emerge as the successful candidate. Certainly the small team at IPMobile considered themselves as rank outsiders. Nevertheless IPMobile was indeed successful. After 2 years of deliberation and much technology, business and policy analysis IPMobile was granted the spectrum licence to build and operate a 3G mobile network based on TD-CDMA technology in November 2005 [18] (Figure 2.23). The business plan submitted by IPMobile to MIC projected a network build up to cover 50% of populated areas in Japan by 2010. This plan called for $1 billion capital to be raised from Japanese and international investors. Ultimately IP