Yahoo Japan says to raise stake in Japan Net Bank to 41 pct

TOKYO, April 1 Tue Apr 1, 2014 1:36am EDT

TOKYO, April 1 (Reuters) - Yahoo Japan Corp said on Tuesday that it will raise its stake in Japan Net Bank, an internet-focused lender, to 41.16 percent from 12.18 percent for an undisclosed sum to strengthen its online payment system.

The purchase is planned on April 30, it said.

Shares in Yahoo Japan, which is 42.5 percent held by mobile carrier SoftBank Corp, were up 1 percent at 511 yen, outpacing a flat benchmark Nikkei. (Reporting by Dominic Lau and Emi Emoto; Editing by Chang-Ran Kim)

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