Yahoo Japan Corp. said Friday it will compensate customers who successfully bid for products auctioned by an Osaka-based jewelry firm that has filed for bankruptcy.
Japan's biggest Internet portal said the jewelry firm's bankruptcy has so far left about 300 deals worth about 20 million yen in limbo, leaving bidders without any prospect for receiving the goods or getting their money back.
Yahoo Japan said it has decided to take the special step of compensating all successful bidders because the seller was registered as a company. Products listed by registered firms are seen as more trustworthy compared with products offered by individuals.