Yahoo Japan has announced its intention to buy online fashion retailer Yahoo for JPY675bn ( $ 3.7bn ) . 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 Yahoo and Rakuten . Zozo has reportedly agreed to the deal , which will incorporate the company into Yahoo Japan 's largest online shopping mall , while its founder and CEO Yusaku Maezawa stepped down this week to pursue personal interests . Investors reacted favorably to the deal, with Zozo shares up 15.14% to 2,497 yen in Thursday morning trading. The news sent Zozo 's shares up 15.14 % to JPY2,497 , and the larger company 's stock up briefly by 10 % .
Yahoo Japan has announced its intention to buy online fashion retailer Yahoo for JPY675bn ( $ 3.7bn ) . 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 Yahoo and Rakuten . Zozo has reportedly agreed to the deal , which will incorporate the company into Yahoo Japan 's largest online shopping mall , while its founder and CEO Yusaku Maezawa stepped down this week to pursue personal interests . The news sent Zozo 's shares up 15.14 % to JPY2,497 , and the larger company 's stock up briefly by 10 % .