Sony Corp. is planning to launch its latest devices in Japan in December along with a dedicated virtual library. The move will mark a return to Japan for the electronic giant’s e-reader business since it left the market in 2007 after seeing low demand at a time when Japanese consumers were focused on mobile phone books.

Sony has cut the size and weight of its e-readers while expanding the use of touch technology to all models–allowing users to turn pages with a swipe of the finger like the Apple iPad. Unlike the color iPad, the Sony Reader uses black-and-white e-ink technology.

Its two models, Reader Pocket Edition and Reader Touch Edition will be available Dec. 10 in about 300 Japanese stores, selling for $240 and $300. Sony will also open a digital bookstore for the device in Japan as it has elsewhere; offering downloads of around 20,000 titles.

According to the company, the group hopes to sell 300,000 e-readers in Japan in the first year and expects a 50% market share by 2012.