Yahoo Japan, Line to merge business to form online giant

guest · Nov 18, 2019

Yahoo Japan, Line to merge business to form online giant
November 18, 2019
https://apnews.com/2cb05a859b7647e792f3ee29550da33f

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

“Social and industrial conditions surrounding us are changing drastically and daily on a global basis,” it said, adding that Japan needs to catch up, and coming together might help.
They said the companies are a good match because they both operate online content and financial services, but can complement each other. Line, for instance, is stronger in messaging and Yahoo in online commerce, they said.
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