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TOKYO, Japan — Yahoo Japan Corp. jumped the most in two months in Tokyo trading after the online retailer said it is considering a partnership with Alibaba Group Holding Ltd.
The alliance would offer support and lower fees for Japanese e-commerce companies looking to list on China-based Alibaba’s Tmall and Tmall Global shopping sites, Yahoo Japan said in an e-mailed statement Friday. The Nikkei newspaper reported the tie-up earlier today.
Yahoo Japan’s shares climbed as much as 7.4 percent, the biggest intraday jump since March 20, to 535 yen. They traded 5.2 percent higher as of 9:57 a.m. in Tokyo. Alibaba fell 1.8 percent in New York Thursday.
The rising popularity of Japanese goods in China is creating an expansion opportunity for domestic merchants, Yahoo Japan said in the statement. The partnership will begin this summer, Nikkei reporting without citing its sources.
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The two companies share SoftBank Corp. as a common shareholder. Billionaire Masayoshi Son’s company owns about 36 percent of Yahoo Japan and 32 percent of Alibaba, according to data compiled by Bloomberg.
By Pavel Alpeyev, Takashi Amano; editors: Michael Tighe, Dave McCombs, Robert Fenner.
