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Yahoo Japan to form equity tie-up with Recruit

TOKYO - Yahoo Japan Corp plans to take a 41.3% stake in All About Inc, a Recruit Co subsidiary, for 2.3 billion yen (US$20.9 million), with an eye toward a tie-up in Internet advertising and merchandising.

Yahoo will be the second-biggest shareholder behind Recruit, which holds 56.1%.

All About operates a Web site that offer specialized information on such topics as travel and cars. The site features around 300 guides and attracts 11 million users a month.

Under this partnership, Yahoo hopes to beef up its advertising operation by using All About's know-how in distributing detailed information.

All About intends to use Yahoo's ability to pull in more customers. Yahoo sees around 37 million users a month. It is also looking to enrich its web site by taking advantage of a variety of Yahoo's services, such as weather information.

Yahoo will buy 500 million yen worth of new All About shares through a private placement in mid-September. At the same time, it will acquire the All About shares held by About Inc of the US through Recruit. Yahoo plans to dispatch a board member to All About.

(Asia Pulse/Nikkei)

Sep 8, 2004

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