Friday, 22nd March 2013
In Business In Japan,
Online Japanese retailer Rakuten parts with Indonesia
One of Japan's biggest online companies, Rakuten, has announced that it will be breaking its connection with Indonesian company PT Global Mediacom (MMC Group).
This action essentially means that the online shopping mall Rakuten Belanja Online will probably have to close, although it remains active at the moment.
The internet store sells a range of goods including books, clothing and electronics. The partnership was established in 2011 with Rakuten taking a 51 per cent stake in the business with the rest belonging to the MMC Group.
The joint venture seemed to be successful as numbers were rising for the online site but Rakuten decided that the figures weren't as much as it had hoped for and so ended the agreement. Rakuten Ichiba in Japan offers more than 400,000 merchants and 100 million products and it is known to break away from deals that don't deliver on its expectations.
If the Indonesian site does end its online service then Rakuten will still have a grasp on the south-east Asian market through Rakuten Online Shopping in Malaysia and Tarad.com in Thailand.