Yahoo Japan to acquire online retailer Zozo

Friday 13 September 2019 13:12 CET | News

Internet and ecommerce company Yahoo Japan has announced it will launch a takeover bid for Japan-based online clothing retailer Zozo.

The founder of Zozo is willing to sell his shares in the tender offer, according to Reuters. Moreover, sources estimate that the deal would be worth hundreds of billions of yen.

Yahoo Japan is partly owned by Japan-based SoftBank. In the country, Yahoo faces intense competition from Rakuten, but also from Amazon, which is another rival.

In recent news, Yahoo Japan has announced a partnership with Alipay, with the aim to expand mobile payments in Japan. Ant Financial also announced that it would work with regional banks in Japan to promote its payment platform Alipay.

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Keywords: Japan, ecommerce, Yahoo Japan, online retailer, Zozo
Countries: World