Yahoo Japan parent merges with Line

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.