On the same day when Rakuten’s investment on Pinterest reported (Rakuten announced it officially on today May 18.), the Japan’s largest online mall also announced another domestic investment.
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.
