Former Yahoo Japan Corp. President Masahiro Inoue died in a traffic accident in California on Tuesday, it was learned Saturday. A Tokyo native, Inoue was Yahoo Japan's president for 16 years after taking the reins of the Internet search company from SoftBank Group Corp. Chairman and CEO Masayoshi Son in July 1996. Inoue joined the predecessor of the SoftBank Group in 1992 and was appointed manager of the secretariat office under Son in 1994. He became a member of Yahoo Japan's board when the company was established in January 1996 as a joint venture between SoftBank and Yahoo Inc. of the United States.
Yahoo Japan Corp. is considering introducing a four-day workweek for all its 5,800 employees, sources have revealed. The subsidiary of SoftBank Group Corp. plans to implement the system in stages over several years, but wages under the new system have not been determined, the sources said Saturday. The system is being studied as part of an effort to ensure the hiring of competent personnel and prevent employees from quitting in order to care for ailing parents, they said. Beginning in October, Yahoo Japan also plans to provide a commutation allowance of up to 150,000 a month to enable employees living in distant places to commute via bullet train. The internet search engine operator will also allow employees to work from home up to five days a month from October, compared to the two days a month currently allowed.
Yahoo Japan Corp. said Friday no customer information was leaked from the company and no damage has been confirmed after hackers stole sensitive information from at least 500 million Yahoo accounts. The startling breach, disclosed Thursday, is believed to be the largest to hit a single email provider. Stolen information may have included names, email address, birth dates and encrypted passwords, along with encrypted or unencrypted security questions and answers that could help hackers break into victims' other online accounts. According to Yahoo Japan, the firm offers its own service by borrowing the brand name from Yahoo in the United States, and its database and other infrastructure are separate from the U.S. firm. "We have personnel and technological exchanges" with Yahoo in the U.S., but the services provided in Japan and the U.S. "are different services run by different companies," a Yahoo Japan official said.
Yahoo Japan, the last enclave of GeoCities, is scrapping the beloved website-hosting service. In March 2019 -- 22 years after its original launch -- GeoCities will be extinct, according to Quartz. Yahoo, which bought the platform in 1999 for $3.57 billion in stock, announced the closure on its Japanese website, citing profitability and technological issues. As a result, Yahoo "regrets" that all the GeoCities content -- compartmentalized into "neighborhoods", as is the norm -- will be wiped from the web along with it. That means you've only got a few months left to relive GeoCities' lurid, DIY aesthetic before it vanishes into the ether.
Altaba Inc., the holding company formed from the overseas investments not purchased by Verizon Communications Inc. in its acquisition of Yahoo Inc., will raise about $4.34 billion by selling its entire stake in Yahoo Japan Corp. The company increased the size of the deal to include its entire holdings of 1.36 billion shares after initially saying it planned to sell about 750 million shares to raise about $2.5 billion, according to terms of the deal obtained by Bloomberg. Altaba is offering shares of Yahoo Japan at ¥354 each, representing a discount of 4.6 percent from the stock's last close, the company said Monday in a statement. Altaba is Yahoo Japan's second-largest shareholder, holding a 23.9 percent stake, trailing only SoftBank Group Corp., data compiled by Bloomberg show. It is Altaba's second major sale of the Japanese company's shares this year.