A man uses a mobile phone in front of a Rakuten Mobile branch in Tokyo, Japan December 14, 2017. REUTERS/Kim Kyung-Hoon
Wal-Mart Stores Inc has forged another alliance to counter Amazon.com Inc., partnering with Japan’s Rakuten Inc to sell e-books in the US and improve its online grocery business in Asia’s second-largest economy.
The collaboration will bring Rakuten’s Kobo device and e-book catalogue to Wal-Mart’s US stores later this year, the companies said in a statement late Thursday. The partnership also includes a revamp of Wal-Mart’s online grocery service in Japan that will roll out in the third quarter. The news sent Rakuten shares up 4.5% in Tokyo on Friday, their biggest gain in more than eight months.
Already a subscriber? Log in.
Win a prize this Mother's Day by subscribing to our annual plan now! T&C applies.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
