In March, I found one magazine in Hong Kong. By June, there were racks and books dedicated to it. In Singapore there are only three Internet service providers. When I recruited for employees, I received many responses, but many had less than one year experience in doing anything Net-related. Nevertheless, the Internet and the Web is growing very quickly in Asia.
Japan has a much better infrastructure for the Net than all of Asia.
The ferocious competition in the Internet connectivity business is only going to benefit the consumers with lower prices, albeit some lower quality services may arise. I see opportunities for many US companies using the Internet. The first thing to do is find a partner in the region if they don't know the market here that well. Another thing to strongly consider is the languages. If you are targeting Japanese, it better be in Japanese.