July 8 (Bloomberg) -- News Corp. plans to enter Japan's 600.3 billion-yen ($5.61 billion) online advertising market in September, Nikkei English News reported, without citing anyone.

The New York-based media company would purchase ad space from Web-site operators, find marketers to fill the space and distribute the ads, Nikkei said.

News Corp. seeks to increase its annual global online ad revenue to 100 billion yen over five years, in part by entering the so-called ad network market in Japan, Nikkei said.

It has set up a Web-based ad operation within its Japanese business and may seek to acquire Japanese online ad agencies, Nikkei said.

To contact the reporter on this story: Nancy Moran in New York at nmoran@bloomberg.net.

Last Updated: July 7, 2008 14:41 EDT