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AOL stock rises after report on Japan

America Online's stock jumped after reports that it plans to offer Internet access in Japan by the end of the year.

America Online's stock jumped today after reports surfaced this weekend that the leading online service plans to offer Internet access in Japan by the end of the year.

The story, which Japan's Kyodo News Agency ran over the weekend, has AOL and trading firm Mitsui and Company joining forces to offer Japanese-language Internet services. AOL shares jumped 5-1/4 to close today at 67-7/8 on the Nasdaq index.

The report stated that the company expects to have more than 1 million subscriptions in Japan over the next two years. In comparison, the Japanese online companies NIFTY and PC-VAN each have around 1.5 million subscribers, according to Kyodo. AOL has 5 million subscribers in the United States.

Neither AOL nor Mitsui officials were available for comment on the report.