Articles > Newspapers > International Newspapers, Major Markets > Kyodo News International (Tokyo, Japan) news wires > March 2006

Article: Yahoo Japan to buy Toshiba's online news firm for 1.3 bil. yen.

Article from:
Kyodo News International (Tokyo, Japan)
Article date:
March 24, 2006
Copyright

Mar. 24--TOKYO -- Yahoo Japan Corp. said Friday it will turn NewsWatch Inc. into its subsidiary by acquiring a 69 percent equity stake in the online news company from its parent Toshiba Corp. for 1.32 billion yen.

Yahoo Japan said the acquisition is part of its efforts to strengthen news services on its Internet sites.

NewsWatch, established in 1996, provides online news search and clipping services to companies. The company, which obtains news from its partner newspapers and publishers, has well-developed know-how in searching news on the Net.

Toshiba said it will continue to hold the remaining 20 percent stake ...

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