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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.

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