Rakuten to Buy into Gurunavi

July 31, 2018

Tokyo- Major Japanese cybermall operator Rakuten Inc. said Monday that it has agreed to form a capital and business tie-up with restaurant booking website operator Gurunavi Inc.

Rakuten will buy 9.6 pct of outstanding Gurunavi shares from Gurunavi Chairman Hisao Taki, the top shareholder of the firm, on Aug. 22, to become its second-largest shareholder, after Taki.

The acquisition price was not disclosed. As of the end of March this year, Taki had a stake of some 27 pct in Gurunavi.

Rakuten will dispatch an official to serve on Gurunavi's board of directors.

As part of the business collaboration, Rakuten and Gurunavi plan to introduce members of their respective services to the other's website. In addition, the two companies plan to utilize their data in order to jointly develop new services and carry out sales promotion activities.

Rakuten hopes to integrate Gurunavi's membership and points system into its systems in stages. Jiji Press