Kotaku notes that Recochoku is short for "Record-Chokusetsu" or "Record Direct" and is an already well established music service in Japan. It will become available in the region this December and will boast over one million songs for purchase.
Seeing as how this is a Japan-centric service, there's virtually no chance we'll see it come to North America. That said, would you like to see a service like iTunes on the 3DS? Let us know in the comments below.