Japanese consumer electronics firm Sharp says it will enter the electronic reader and book markets, sending its shares higher on Wednesday.

Sharp plans to offer e-book distribution and compatible reader devices later this year, joining a crowded sector that includes Apple, Amazon and Sony.

The company says it has the backing of various publishers in Japan and overseas, as resistance by book firms to digital content -- even in Japan's U.S. $20 billion market -- is gradually breaking down.

Last year, Japan's e-book market alone was estimated near U.S. $570 million, mainly comic books.

Google said this month it would launch an e-book service in Japan, while Sony and mobile No.2 KDDI plan to team up to distribute content.

With the intense competition, though, companies such as Sony have already begun slashing prices of e-readers, while Sharp did not disclose its pricing plans.

Sharp added to gains Tuesday, aided by a milder weaker yen against the dollar.