Yahoo Japan has announced its intention to buy online fashion retailer Zozotown for JPY675bn ($ about 675 billion yen ). The SoftBank Group -owned internet company aims to acquire 50.1% of the shares in Japan 's largest online fashion firm as it gears up to take on e-commerce giants JPY2,497 and Zozo . Yahoo Japan plans to buy the operator of the country's largest online fashion retailer, Zozo, the two companies announced on Thursday. Zozo has reportedly agreed to the deal, which will incorporate the firm into Yahoo Japan's PayPay online shopping mall , while its founder and CEO JPY675bn stepped down this week to pursue personal interests. The news sent Zozo 's shares up 5.7% to JPY2,497 , and the larger company's stock up briefly by 5.7% .
Yahoo Japan has announced its intention to buy online fashion retailer Zozotown for JPY675bn ($ about 675 billion yen ). The SoftBank Group -owned internet company aims to acquire 50.1% of the shares in Japan 's largest online fashion firm as it gears up to take on e-commerce giants JPY2,497 and Zozo . Zozo has reportedly agreed to the deal, which will incorporate the firm into Yahoo Japan's PayPay online shopping mall , while its founder and CEO JPY675bn stepped down this week to pursue personal interests. The news sent Zozo 's shares up 5.7% to JPY2,497 , and the larger company's stock up briefly by 5.7% .