Alibaba Sets Up JV With Softbank In Japan

Masayoshi Son, CEO of the SoftBank, first disclosed in November 2007 at the GSM Mobile Communications (Asia) Conference that SoftBank was negotiating with Alibaba. Sun said at the time that SoftBank will hold the majority of the new JV. Fast forward a few months, and now Softbank says its stake will be an investment of US$20 million for 65% of the business, and Alibaba takes the remaining 35%.

Alibaba.com Japan is the first online B2B global trading platform providing Japanese language and localized content for Japanese clients. It will first focus on importing from China and then gradually expand to Japanese exports and Japanese local market B2B trade.

At present, there are more than four million small and medium businesses in Japan, which account for 25% and 63%, respectively, of the country’s export value and import value. In 2006, China surpassed the United States and became the largest trading partner for Japan.

Source : Chinatechnews

0 comments

Add your comment

Commenting is allowed only for registered users.

Other articlesgo to homepage

	EBay Cross-border Trades(0) San Jose-based eBay, the owner of e-commerce sites and the PayPal payment service, plans to focus on exports and cross-border trades involving China instead of competing in the domestic market, Chief Executive Officer John Donahoe said Friday, reported Bloomberg.

	Alibaba Buy Auctiva(0) China’s largest e-commerce company, Alibaba.com Ltd, made its second U.S. acquisition in as many months and its chief executive said on Tuesday he was working on more deals to fuel global growth, reported Tuesday’s Reuters.

	Alibaba.com Eyeing Acquisitions(0) Chinese online business platform operator Alibaba.com Ltd. expects to announce more strategic partnerships, including acquisitions, in the next few quarters to build its new wholesale e-commerce platform, Chief Executive David Wei said Tuesday, reported Dow Jones.

	QFIIs to Trade Futures(0) China may allow qualified foreign institutional investors to use as much as 10 percent of their investment quotas to trade stock-index futures, the China Securities Journal reported, citing an unidentified person.

	Lekutian Baidu Rakuten joint venture will hold massive merchants recruitment(0) Lekutian, Baidu and Japanese Rakuten jointly created shopping site, quietly announced its schedule for the national merchants recruitment meeting: within the next month it will recruit merchants in Beijing, Guangzhou, Shenzhen, Xiamen, Hangzhou, Shanghai, which means lekutian is accelerating promotion in China.