Yahoo Japan operator merges with Line to take on foreign tech giants Sorry, but your browser needs Javascript to use this site. If you re not sure how to activate it, please refer to this site: https://www.enable-javascript.com/
Kentaro Kawabe (left), president of Yahoo Japan operator Z Holdings Corp., and Line Corp. President Takeshi Idezawa hold a news conference in Tokyo on Monday. | KYODO
Kyodo Mar 2, 2021
Z Holdings Corp., operator of Yahoo Japan online services, and messaging app provider Line Corp. merged on Monday to expand their online services globally as they aim to better compete with U.S. and Chinese tech giants.
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TOKYO, March 2 (Reuters) - Japanese stocks fell on Tuesday, giving up early gains as some investors booked profits on defensive energy and utility shares before the end of the fiscal year this month.
The Nikkei 225 Index fell 0.22% to 29,598.56 by 0153 GMT, while the broader Topix declined by 0.46% to 1,893.64.
The benchmark Nikkei jumped 2.4% on Monday as signs of a massive sell-off in U.S. Treasuries coming to an end gave a boost to riskier assets, but equity gains quickly fizzled out on Tuesday.
Japanese investors will close their books as their fiscal year ends on the last day of March and many market participants are looking to take profits on the Nikkei’s 87% rally in the past year to a more than three-decade high.
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.
CANBERA (dpa-AFX) - Asian stocks fell broadly on Tuesday despite sharp gains on Wall Street overnight on positive vaccine and stimulus news. Chinese markets fell as the country's top banking
Global stock markets and Wall Street futures declined on Tuesday after a selloff in the US Treasury debt eased, helping to allay concern about a possible rise in interest rates.