US-based e-commerce company eBay is planning to expand its footprint in the Japanese market by acquiring Giosis’ Japan business, including the Qoo10.jp online shopping platform.

Financial details of the deal have not been disclosed by either company.

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Giosis has been establishing its businesses across Asia since 2010 when eBay made an initial investment in the company.

eBay has agreed to give up its investment in Giosis’ non-Japanese businesses as part of the deal.

“Building on the strength of the Qoo10.jp platform, we will be able to offer Japanese consumers more inventory from around the world.”

eBay president and CEO Devin Wenig said: “The acquisition of Giosis’ Japan business significantly expands eBay’s footprint in Japan, one of the largest e-commerce markets in the world.

“Building on the strength of the Qoo10.jp platform, we will be able to offer Japanese consumers more inventory from around the world.

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“With the Qoo10.jp platform, we also will be able to serve a new and growing user base, as well as broaden our presence in a dynamic, underpenetrated market with strong e-commerce potential and high mobile adoption.”

eBay intends to build on the progress made by Giosis in Japan by further improving the domestic customer experience, as well as offering a wide range of local and international merchandise to Japanese customers using the Qoo10.jp platform.

eBay has been operating a cross-border trade (CBT) export business in Japan since 2009 and promoting CBT opportunities to local retailers, entrepreneurs and small businesses in the country.

Established in 1995 in San Jose, California, eBay connects buyers and sellers worldwide through its e-commerce platform.