Japanese telecom company KDDI Corp will pay more than 12 billion yen (€99 million) for about a 2% stake in convenience store chain Lawson as the pair tie up in smartphone payment services, the Nikkei Shimbun reported.
The tie-up will include Lawson's parent company, Mitsubishi Corp, the newspaper said on Monday.
KDDI's president will hold a joint news conference with the presidents of Lawson and Mitsubishi Corp's consumer products group at 4:30pm (0730) in Tokyo, the telecom company said in an email.
News by Reuters, edited by ESM. Click subscribe to sign up to ESM: European Supermarket Magazine.
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