Japanese Softbank Corporation has reached an agreement with China's Internet giant Oak Interactive Group (OPI) to become its largest shareholder and bring it under its wing. Softbank will spend about 10 billion yen (approximately RMB 675 million) to purchase approximately 14% of OPI's shares. Including the private placement, Softbank's total investment will reach around 40 billion yen, thereby owning 40% of OPI's shares. Xiaonei.com, China's largest student social networking site, is a subsidiary of Oak Interactive Group.