Yahoo Japan, Line expected to agree to merger - NHK WORLD

The operators of Yahoo Japan and messaging app Line are expected to agree to a corporate merger.

Z Holdings, which controls Yahoo Japan, and Line have been negotiating a merger along with their parent companies, Softbank and South Korea's Naver.

Informed sources say the two firms will likely hold board meetings and officially decide on Monday.

Softbank and Naver are expected to set up a 50-50 joint venture with Z Holdings under its umbrella. Yahoo Japan and Line would operate as subsidiaries.

Line CEO Takeshi Idezawa is expected to become a co-CEO of Z Holdings, along with the current CEO Kentaro Kawabe.

About 50-million people use Yahoo Japan's search engine and news services. Line is used by 82-million people in Japan. Their merger would create a mega platform, offering social media, online shopping, financial and other Internet services.

Yahoo Japan recently acquired one of the country's largest online fashion retailers, Zozo, for 3.7 billion dollars. Its merger with Line will likely affect the business strategies of other IT companies.

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November 18, 2019 at 02:14AM
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Yahoo Japan, Line expected to agree to merger - NHK WORLD
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