Zozo founder Yusaku Maezawa will sell around 30% of the retailer in a tender offer to Yahoo Japan.
IPOs & Markets
The IPO will give the startup a valuation exceeding the 30 billion yen achieved at its last fundraising.
The technology conglomerate reported a leap in profits at its first $100 billion fund. But, much of the gains are paper profits, with its unrealized g
The fund is backed by investors including South Korea's National Pension Service.
"Unfortunately there are virtually no companies that can be called global No. 1 unicorns," said the SoftBank Group CEO.
Walmart may keep a majority stake in the business.
SoftBank will soon start discussing the second fund with the investors, Son said at the group's annual general meeting.
SoftBank is the largest shareholder in the venture with a 40.2% share while Toyota owns 39.8%.
The firm will list on the Tokyo Stock Exchange's Mothers market on June 19.
Japan last June introduced a law that required hosts to register with the government and capped home-sharing to 180 days a year.
© Copyright DEALSTREETASIA 2014-2019 All rights reserved.
Forgot your password?
We will never share your information with third parties.
Already have an account? Sign in here
If you don’t already have an account click the button below to create your account.
Unlock your competitive advantage in a
rapidly evolving landscape. Our packages
come with exclusive access to archive
content, data, discount on summit tickets & more.
Be a part of our growing community now.