Yahoo, EBay to Team Up in Japan

TOKYO – Yahoo Japan Corp. and eBay Inc. said Tuesday they have agreed to team up in online auctions, planning services for next year that will make it easier for consumers to buy things via the Internet from the U.S. and Japan.

Yahoo said by March, Japanese will be able to bid for items up for sale on eBay through the Yahoo auction site in Japan. By the middle of next year, similarly, a site will be set up that will allow Americans to buy Yahoo Japan auction items through the eBay site.

The deal will facilitate "cross-border trading" and invigorate the online auction market, Yahoo said in a statement.

In online auctions, consumers put up items they want to sell and get offers through the Internet from prospective buyers.

News of the agreement, initially reported in the business daily The Nikkei, sent shares of Yahoo Japan climbing Tuesday morning.