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June 27, 2017

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Japan e-commerce giant Rakuten to work together with AirAsia: report

TOKYO--Japan's top e-commerce site operator Rakuten will enter the air travel business by allying with Asia's biggest budget carrier, Malaysia-based AirAsia, a report said Thursday.

Rakuten is preparing to make a capital injection in AisAsia's Japanese unit, possibly in 2015, the Toyo Keizai economic magazine said on its online edition.

Two or three more Japanese companies may also put cash into AirAsia Japan, it said.

Shares in Rakuten were up 3.45 percent to 1,316 yen in early afternoon trade on the Tokyo Stock Exchange after the media report, which the company did not confirm.

The Toyo Keizai said one of the likeliest ideas was that Rakuten and AirAsia could hold a maximum one-third each of the Japanese unit's shares with the remaining one-third held by a combination of other Japanese firms.

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