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Amazon set to become top shareholder of Japan's istyle cosmetics website

Deal to boost e-commerce giant's presence in competitive market

Amazon seeks to expand its presence in the competitive Japanese cosmetics market through a deal with istyle.    © Reuters

TOKYO -- will invest in istyle, the company behind the @cosme review and retail site, gaining access to the Japanese beauty product vendor's trove of user reviews. 

Under the agreement announced Monday, istyle will issue 2.5 billion yen ($18.7 million) in convertible bonds as well as 11.5 billion yen in warrants to Amazon on Sept. 6. If these convertible bonds and warrants are turned into stock, Amazon would become the top shareholder with a 36.95% stake.

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