Rakuten Inc., the nation's largest Internet shopping mall operator, and convenience store operator Lawson Inc. said Monday they have forged an alliance on selling tickets for concerts, movies and other kinds of entertainment.
Under the deal, Rakuten will sell tickets supplied by Lawson Ticket Inc., a Lawson subsidiary. Lawson Ticket sells more than 40 billion yen worth of tickets a year through the Lawson network of some 7,700 convenience stores and over the Internet.
As part of the agreement, Rakuten will acquire an equity stake of 19.6 percent in Lawson Ticket by purchasing new shares to be placed privately for some 1.55 billion yen, with payment due Jan. 21.