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SoftBank's Masayoshi Son eyes bringing Coupang services to Japan

SoftBank Group CEO Masayoshi Son said on Monday the conglomerate's domestic internet business Z Holdings is in talks with South Korean e-commerce firm Coupang about bringing its services to Japan.

Japan's SoftBank Group Corp Chief Executive Masayoshi Son attends a news conference in Tokyo. Photo: Reuters

Japan's SoftBank Group Corp Chief Executive Masayoshi Son attends a news conference in Tokyo. Photo: Reuters

Reuters TOKYO

TOKYO (Reuters) - SoftBank Group Corp CEO Masayoshi Son said on Monday the conglomerate's domestic internet business Z Holdings is in talks with South Korean e-commerce firm Coupang about bringing its services to Japan.

SoftBank's Vision Fund markets itself to potential investments as offering a gateway to Japanese markets. Z Holdings completed a merger with internet business Yahoo Japan and chat app Line this month.

The turnaround in valuations at the $100 billion Vision Fund was underscored at Coupang's New York debut earlier this month. SoftBank holds a 37% stake in Coupang, which has a market cap of $75 billion.

 

 

(Reporting by Sam Nussey; editing by David Evans)

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Mar 30 2021 | 12:08 AM IST

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