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Yahoo looks for ways to shed Japanese namesake

1:18 am on Jan 27, 2012 (gmt 0)

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Yahoo looks for ways to shed Japanese namesake [news.cnet.com]

Yahoo is currently in discussions with Yahoo Japan to sell off its share in the Asian company.

Speaking to reporters yesterday, Yahoo Japan Chief Financial Officer Akira Kajikawa said that Yahoo is trying to "finalize the mechanism [for selling its stake] and we are cooperating with them," according to The Wall Street Journal, which was in attendance at the event.

Kajikawa didn't say how Yahoo would go about selling its 35 percent stake in Yahoo Japan, but according to the Journal's sources, the company is trying to find a way to do it without paying taxes. Yahoo could be forced to pay as much as $4 billion in taxes to shake its Asian assets, the Journal's sources say.