The Japanese market is going to reel for at least a few days over the Tsunami and the now 9.0 earthquake. I am buying the ADR for NTT DoCoMo Inc, (DCM) the largest mobile phone provider in Japan. The networks are down in places, and emergency crews get first dibs on the working network up North, but it is operating all over the country and their data network, which is not under emergency order, is flying as an alternative in the areas where they have to stay off of voice lines. There will be some down quarters ahead, to be sure, with damage and the loss of so much, but, unlike their land-line counterpart at NTT, they will be able to see profits quicker, and their pre-earthquake outlook looks to be about the same. It would be a ho-hum stock had the market not sapped it yesterday, and this morning on the Nikkei. I spoke to Morningstar’s analyst to get a read on the situation, and his update is on their analysis. It’s a pretty good buy at current ADR prices as long as they stay under 20-21. I am researching other options and will keep you posted.