On May 15, Rakuten and Online pharmacy company Kenko.com (kenko = health in Japanese) jointly announced [J, pdf] that they agreed on business alliance, as well as Rakuten’s friendly take over bid on Kenko.com, which will make Rakuten as a top shareholder, 40.75%. Rakuten group already holds some stock so the total ownership would be about 51%.
Rakuten is planning to send 4 persons to the Kenko.com board on the next shareholder meetings planned on June 26.
Kenko.com, who has been leading health-related products e-commerce in Japan, has been fighting on court against government around online drug-selling regulation. They recently marked a big turn-over win at high-court that the original government regulation banning internet drug selling, though Health, Labour and Welfare Ministry(MHLW) has appealed to the supreme court.
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