Japan FTC Approves Yahoo-Line Integration
Tokyo, Aug. 4 (Jiji Press)--Japan's Fair Trade Commission approved Tuesday the planned business integration of Z Holdings Corp. <4689>, the parent of internet portal Yahoo Japan Corp., and free messaging app provider Line Corp. <3938>.
In exchange for the approval, the antitrust watchdog required them to submit for three years after the integration annual reports on the market size and competitive environments regarding their smartphone-based payment services, which together account for 60 pct of the total domestic market for such services.
Z Holdings' PayPay smartphone payment service and Line's Line Pay service have a market share of about 55 pct and 5 pct, respectively.
The FTC said that the Z Holdings-Line integration will not amount to hampering competition in the business area if an environment allowing individuals and corporations to choose smartphone payment services of other companies is secured.
Concerned about the possibility of the business integration influencing price competition, however, the FTC said that it would take action under the antimonopoly law in case it finds antitrust problems through checking the annual reports from the integrated entity.
[Copyright The Jiji Press, Ltd.]