According to foreign media reports, in order to compete with Google's YouTube, Yahoo Japan announced on Tuesday that it would acquire shares of the online video website GyaO under Japan's broadband content provider Usen, in order to cut costs.
Softbank owns 41% of Yahoo Japan's shares, while Yahoo holds 34.1%. Yahoo Japan stated on Tuesday that it would pay 530 million yen (approximately 5.3 million USD) to purchase 51% of the shares of the GyaO site under Usen, and eventually integrate its platform.
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