With Yahoo ZOZO acquisition "to create the future of the Internet together" September 12, 17:53
IT giant Yahoo has officially announced that it will acquire ZOZO, one of the largest fashion mail order sites in Japan, to strengthen its online mail order business. In line with this, ZOZO founder Tomasaku Maezawa retired as president on the 12th.
Yahoo and ZOZO have already held a press conference.
Yahoo ’s president, Kentaro Kawamata, expressed his enthusiasm for the acquisition, saying, “We want to welcome ZOZO to a group company and create the future of the Internet together.”
According to the announcement, Yahoo !, a mobile phone company and a subsidiary of Softbank, intends to acquire more than 50% of ZOZO shares and acquire TOB = shares in early October. Yahoo will invest 400 billion yen.
ZOZO has agreed to TOB, and Mr. Maezawa, who is the founder and has about 35% of the shares, will sell about 30% of the shares.
Mr. Maezawa retired as president on the 12th.
Yahoo and ZOZO want to increase each other's customers at once by this acquisition.