Yahoo Japan, Line to merge business to form online giant « Khabarhub
Thursday, June 13th, 2024

Yahoo Japan, Line to merge business to form online giant


18 November 2019  

Time taken to read : 2 Minute


  • A
  • A
  • A

TOKYO:  Online services Yahoo Japan and Line Corp. have announced they are merging.

Z Holdings Corp., which owns SoftBank Corp. that operates Yahoo Japan, and Naver Corp. of South Korea, which owns a majority stake in Line, said Monday they are aiming for a final agreement by next month.

The combination in a joint venture through a tender offer will form an online giant with retail services, advertising and other mobile services such as messaging.

The combined sales would be the largest among Japanese online business operators, surpassing Rakuten Inc., according to the Kyodo News service.

The companies said combining forces will allow them to stay competitive in a drastically changing market, including expansions into robotics and other new areas.

The integration will be carried out equally, according to the companies, but the price is expected to be decided in December.

Discussions had been ongoing between Naver and Z Holdings since June, they said. After a deal is completed, Line will get delisted.

The new company will primarily focus on the Japanese market, seeking to answer to Japan’s social needs such as a shrinking working population and natural disasters, SoftBank said in a statement.

(Agencies)

Publish Date : 18 November 2019 20:55 PM

Today’s national news in a nutshell

Khabarhub brings you a glimpse of major developments of the

Lawmaker Gurung proposes downsizing federal ministries to 12

KATHMANDU: Deputy General Secretary of CPN-UML, Prithvi Subba Gurung, has

Bhattarai criticizes label of ‘Indian agent’, calls for new political force to address national issues

KATHMANDU: Dr. Baburam Bhattarai, Chairman of Nepal Socialist Party and

CK Raut advocates for directly elected Prime Minister system

KATHMANDU: The Janamat Party Chairman and lawmaker Dr. Chandra Kant

Former CJ Shrestha informed about RSS services

KATHMANDU: Former Chief Justice Kalyan Shrestha today visited the RSS