Z Holdings President Kentaro Kawabe and Line President Takeshi Idezawa
Tokyo … News Time
Yahoo has agreed the integration of Japan and the major application line for sending messages, the combined sales of the two companies are expected to be higher than competitor company Rakuten due to which the new company will be Japan’s largest Internet-related company. Yahoo’s Japan-based company Swift Bank and the line’s South Korean company Neur were in talks for the merger, in this joint venture, the two companies will have an equal share. The new company will manage Z Holdings, which operates subsidiaries Yahoo Japan and Line. The consolidation rules will be completed by October next year. Kentaro Kawabe, current CEO of Z Holdings and Takeshi Idezawa of the line, will be the co-CEO of the new company. The merger of these companies to service a large number of consumers in Japan, officials say and by investing in new sectors, the new company plans to achieve global prominence.
In Japan, 8 million 20 million people use the line while close to 5 million people use Yahoo’s search engine and news. The integration of the two companies will provide a wide range of Internet services such as social networking, e-commerce and financial services. Other IT companies’ business strategies are likely to be affected.
