ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon PrintIcon Twitter
Companies

Yahoo Japan to vote against online shopping partner Askul's CEO

Rift deepens as office supply vendor looks to cut ties with top shareholder

Yahoo Japan and Askul's online shopping joint venture, Lohaco, has seen brisk revenue growth but is still posting operating losses.

TOKYO -- Japanese office supplies vendor Askul has proposed ending its partnership with No. 1 shareholder Yahoo Japan, following Yahoo's announcement that it will vote against the reappointment of Askul chief executive Shoichiro Iwata next month.

Yahoo owns 45% of the Tokyo-listed Askul, making it a consolidated subsidiary. Askul is now talking with several companies and investment funds in an effort to find an alternative to Yahoo.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more