Yahoo Japan (YAHOF) has agreed to acquire mobile and broadband provider eAccess from SoftBank (SFTBF) for ¥324B yen ($3.17B) in a deal that will expand the Internet portal's services for tablets and smartphones.
SoftBank, which owns 42.5% in Yahoo Japan, will book a special gain of ¥55.7B for the fiscal year ending March 2015. Yahoo (YHOO) owns 35% in its Japanese namesake. (PR)
Japanese stocks are lower in early trading, with exporters suffering a bit of profit-taking after yesterday's big gains. The Nikkei Average is currently -0.14% to 8,452: Sony (SNE -1.8%), Sharp (SCPAY.PK -1.4%), Nissan (NSANY.PK -0.8%). Yahoo Japan (YAHOY.PK +1.7%) trades up on the news that co-founder Jerry Yang was leaving.