Japan’s third largest online retailer Yahoo Japan Co jumped the most in two months in Tokyo trading after the company said it will team up with Chinese e-commerce giant Alibaba Group Holding to expand footprint into the world’s second largest economy.
Daniel Zhang, Alibaba’s chief executive officer, said they will launch "Japanese Pavilion" on the Tmall website with 100 brands and plans to increase the number to 600 in three years.
The tie-up is expected to start as early as this summer. Those Japanese companies will pay only one-fifth the usually initial costs for selling products on Tmall to enjoy the preferential policy of the cooperation, Japan’s Nikkei Newspaper reported.
(Source: Shanghai Daily)