- ARAB NEWS
- 24 Apr 2024
Since 1975
TOKYO: Japan Post Holdings Co. has agreed to spend some 150 billion yen to acquire an 8.32 percent stake in e-commerce firm Rakuten Inc., the two companies said Friday.
Through the capital alliance, the two firms will make logistics operations more efficient using digital technology. The tie-up will also cover areas such as finances, mobile phones and e-commerce. Details will be announced in April.
Speaking at a press conference, Japan Post President and CEO Hiroya Masuda said he is eager to advance collaboration in a variety of areas with Rakuten, which, he added, has excellent digital technology.
In December, Japan Post Co., a unit of Japan Post Holdings, and Rakuten agreed to work together on digital logistics amid the spread of online shopping.
JIJI Press
