ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronEye IconIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailMenu BurgerPositive ArrowIcon PrintIcon SearchSite TitleTitle ChevronIcon Twitter
Property

Yahoo Japan leaves rental venture with Indian startup Oyo

Home-leasing service hit with complaints from owners

Along with its rental service, Oyo operates a hotel joint venture in Japan with SoftBank Corp. and the SoftBank Vision Fund. (Photo by Mami Osada)

TOKYO -- Yahoo Japan has exited a joint venture for Japanese residential property rentals with India's Oyo Hotels and Homes, it was learned Tuesday.

Yahoo sold its roughly 30% stake in Oyo Technology and Hospitality Japan, operator of the Oyo Life service, to Oyo in November.

The service, which launched in March, leases vacant homes and rooms from their owners to rent out via its website. It reportedly received multiple complaints from owners about contract issues.

While Yahoo has not disclosed its reason for leaving the venture, Oyo is believed to be looking to improve the service in light of resolving the capital relationship.

Oyo is backed by Japan's SoftBank Group, which also has a stake in Yahoo. Oyo operates a joint venture in its mainstay hotel business in Japan with SoftBank's Vision Fund and SoftBank Corp.

Hiro Katsuse, who led Oyo Technology and Hospitality when it launched, has stepped down as CEO.

Sponsored Content

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

You have {{numberArticlesLeft}} free article{{numberArticlesLeft-plural}} left this monthThis is your last free article this month

Stay ahead with our exclusives on Asia;
the most dynamic market in the world.

Stay ahead with our exclusives on Asia

Get trusted insights from experts within Asia itself.

Get trusted insights from experts
within Asia itself.

Get Unlimited access

You have {{numberArticlesLeft}} free article{{numberArticlesLeft-plural}} left this month

This is your last free article this month

Stay ahead with our exclusives on Asia; the most
dynamic market in the world
.

Get trusted insights from experts
within Asia itself.

Try 3 months for $9

Offer ends January 31st

Your trial period has expired

You need a subscription to...

  • Read all stories with unlimited access
  • Use our mobile and tablet apps
See all offers and subscribe

Your full access to the Nikkei Asian Review has expired

You need a subscription to:

  • Read all stories with unlimited access
  • Use our mobile and tablet apps
See all offers
NAR on print phone, device, and tablet media