Yahoo Japan Corp., the nation's largest Internet portal, has canceled plans to acquire eAccess Ltd. from SoftBank Corp. for ¥324 billion as part of a strategy to expand in the wireless data and voice businesses.
Yahoo Japan and eAccess decided that they did not need to combine businesses and that they could cooperate while developing their operations separately. Yahoo Japan said it will still pursue the Y!mobile service with SoftBank while eAccess builds infrastructure, according to the statement.
"We've decided to change the way we cooperate within our group. Employees at Yahoo Japan and eAccess have had many opportunities to have discussions together. . . . We've come to think that we can realize what we want to do more speedily by working on it at each firm," said Yahoo Japan spokeswoman Mana Yasuda.