Rakuten 'to buy big stake in AirAsia's Japan venture'
CEOs of both firms will announce the deal on July 1 in Tokyo: Japan paper
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[TOKYO] Japan's biggest online retailer Rakuten Inc plans to buy a major stake in a Japanese budget airline to be established by Malaysia's AirAsia Bhd, in a renewed bid to tap one of Asia's most lucrative air markets, Japanese media reported.
A foray into the airline business could help the acquisitive Japanese company controlled by Japan's fourth-richest man, Hiroshi Mikitani, boost its online travel site that is already one of the nation's largest.
A similar strategy was pioneered two decades ago by travel company H.I.S, when it set up Skymark Airlines, which has since become Japan's leading discount carrier.
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