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Yahoo Japan operator, Line eye merger in 2020: sources
Original source: english.kyodonews.net
KYODO NEWS - 8 hours ago - 14:38 | All, JapanSoftBank Corp.'s group company controlling Yahoo Japan Corp. and major messaging app provider Line Corp. are considering merging their operations by the end of 2020, sources familiar with the matter said Saturday.
Yahoo Japan operator Z Holdings Corp. under SoftBank, a mobile phone unit of SoftBank Group Corp., and Line will announce their merger plan possibly next week, the sources said.
SoftBank and Line hope to expand their internet businesses including online retailing, advertising and mobile phone services, the sources said.
In fiscal 2018 through March, Z Holdings posted group sales of 954.7 billion yen ($8.76 billion) while Line had sales of 207.1 billion yen in the business year ended last December.
It posted a group net loss of 33.9 billion yen in the nine months through September due to increased costs.