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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

Right move: Rakuten's foray into the airline business could help the online retailer boost its travel website that is already one of Japan's largest. - PHOTO: REUTERS

[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...

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