Yahoo Japan s parent company is merging with messaging app, Line Corp., creating a new tech giant which will service over 300 million users. AFP Z Holdings Corp., the parent of Yahoo Japan Corp., on Monday merged with messaging app provider Line Corp., creating a big Japanese digital company with more than 300 million users and 5tril yen (RM189.77bil) in market capitalisation, reported Jiji Press.
The merged company will invest 500bil yen (RM18.97bil) in artificial intelligence and other technologies over the coming five years, aiming to improve electronic commerce and financial services in an effort to better compete with foreign tech giants.
Naver takes on Japan market via partnership with Yahoo
Posted : 2021-03-02 16:49
By Kim Bo-eun
While it is not Naver s first time to launch portal services in Japan, the situation appears different this time due to it having partnered with Yahoo, which had previously been its competitor there.
Naver is now equipped with a solid market share in both search engine and mobile messenger services via its Japanese subsidiary Line and is seeking to enhance competency with artificial intelligence capabilities.
Naver and Yahoo Japan s parent company SoftBank launched the new entity A Holdings, Monday. Naver founder and Global Investment Officer Lee Hae-jin has assumed the position as co-head of A Holdings, alongside SoftBank CEO Ken Miyauchi. A Holdings is the holding company of Z Holdings (ZHD) Group, which wholly owns Naver s subsidiary Line and Yahoo Japan.
SoftBank s internet business to invest US$5 billion to resist overseas tech giants channelnewsasia.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from channelnewsasia.com Daily Mail and Mail on Sunday newspapers.