Yahoo Japan Parent, Line Announce Biz Integration
Tokyo, Nov. 18 (Jiji Press)--Yahoo Japan Corp.'s parent, Z Holdings Corp. <4689>, and free messaging app provider Line Corp. <3938> on Monday announced a business integration deal to create Japan's biggest internet service group with some 100 million users.
The two sides aim to complete the integration in October 2020, hoping to counter overseas information technology giants, such as Amazon.com Inc.
Z Holdings is a subsidiary of Softbank Corp. <9434>, the telecommunications arm of Softbank Group Corp. <9984>.
Softbank Corp. and South Korea's Naver Corp., which owns Line, will set up a fifty-fifty joint venture that will put Z Holdings under its umbrella. Yahoo Japan and Line will continue their operations as wholly owned subsidiaries of Z Holdings.
Yahoo Japan and Line have many overlapping operations, such as smartphone payment settlement and online shopping services. The combined number of the users of Yahoo Japan's PayPay and Line Pay exceed 50 million.
[Copyright The Jiji Press, Ltd.]