Yahoo is currently in discussions with Yahoo Japan to sell off its share in the Asian company.

Speaking to reporters yesterday, Yahoo Japan Chief Financial Officer Akira Kajikawa said that Yahoo is trying to “finalize the mechanism [for selling its stake] and we are cooperating with them,” according to The Wall Street Journal, which was in attendance at the event.

Kajikawa didn’t say how Yahoo would go about selling its 35 percent stake in Yahoo Japan, but according to the Journal’s sources, the company is trying to find a way to do it without paying taxes. Yahoo could be forced to pay as much as $4 billion in taxes to shake its Asian assets, the Journal’s sources say.

Last month, the brand new York occasions stated that Yahoo was once considering selling its Asian property in a tax-unfastened deal valued at $17 billion. the times said that the deal would come with promoting its entire stake in Yahoo Japan, and holding handiest 15 percent of its possession in China-primarily based Alibaba workforce. The $four billion tax financial savings presumably contains offers struck with both Yahoo Japan and Alibaba.

Although Yahoo gave the Japanese company its name, it’s actually a standalone company founded in 1996. Japanese telecommunications company Softbank, another shareholder, owns 42 percent of Yahoo Japan. According to the Journal, Softbank does not plan to acquire any of Yahoo’s share in Yahoo Japan.

In 2010, Yahoo’s strong relationship with the Japanese company weakened after Yahoo Japan announced a search pact with Google. The deal paved the way for Google to power Yahoo Japan’s search and advertising services. Not surprisingly, Microsoft, which had signed an earlier search deal with Yahoo in the U.S., cried foul.

Since then, as Yahoo’s shares have fallen and its financial performance has slipped, the corporate has been in search of how you can turn things around. Yahoo’s board attempted to switch its good fortune closing yr by firing CEO Carol Bartz, and starting a seek for a brand new CEO. the corporate after all discovered her replacement earlier this month, hiring Scott Thompson as leader executive.

Now, Yahoo is focusing on raising money. Over the last several months, several investors and even Microsoft have reportedly considered offering buyout or partial-ownership bids for the company, but so far, it hasn’t signed a deal. Last month, the Times’ sources said that if Yahoo can sell its Asian assets, the company will probably not sell to bidders.

Yahoo shares are trading down 0.58 % to $15.forty seven. even though that worth is down approximately 13 cents during the last yr, it’s up considerably from the inventory’s fifty two-week low of $11.09.