Daily Management Review

SoftBank sets to create tech giant by merging Yahoo Japan and Line


Japanese internet portal Yahoo Japan, owned by Softbank, and the operator of the popular messenger Line Corp. reached an agreement on merger.

[puamelia] via flickr
[puamelia] via flickr
Yahoo Japan, now called Z Holdings Corp last month, and Line are planning to finalize the deal next month.

Under the terms of the deal, Sofbank and South Korean Naver Corp, the parent company of Line, will each own 50% of the joint venture. It will be in charge of Z Holdings, that, in turn, will manage Yahoo Japan and Line.

The deal is scheduled to be completed in October 2020.

SoftBank Corp and Naver, which owns 73% of Line shares, are planning to launch a tender offer to repurchase the remaining shares of Line at 5.2 thousand yen per paper. It’s on 13.4 % above the price of shares in last session before occurrence of news about planned merge.

The merger is expected to help the companies resist such competitors as Rakuten Inc.

Z Holdings will remain a consolidated subsidiary of SoftBank Corp, which is a division of the investment conglomerate SoftBank Group Corp.

The merger of Yahoo Japan and Line is the latest example of consolidation in Japan's technology industry. This month, SoftBank completed the deal on acquisition of an online fashion store Zozo Inc.

source: reuters.com

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