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Yahoo Japan Finds a Friend in Alibaba
In the U.S., Yahoo is winding down its long relationship with Alibaba. It’s a different story for Yahoo’s Japanese cousin.
Yahoo Japan and Alibaba said Friday that they had agreed to work together to promote Japanese wares in China. The stock-market reaction was euphoric—Yahoo Japan shares rose nearly 12%—suggesting some investors may be hoping for an even closer partnership.
Yahoo Japan started out as a joint venture between the U.S. portal and SoftBank, a Japanese telecommunications and Internet conglomerate. Today it is Japan’s top search engine and one of its two biggest e-commerce players, along with archrival Rakuten.