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    4689   JP3933800009

Z HOLDINGS CORPORATION

(4689)
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Yahoo Japan, Line reach an agreement to merge

11/18/2019 | 06:48am EDT

Tokyo, Nov 18 (EFE).- The company Z Holdings, operator of Yahoo Japan and subsidiary of SoftBank Corp, has reached a preliminary agreement with messaging app provider Line Corp to forge a business integration alliance, both companies said on Monday.

"The Business Integration will be conducted on an equal basis by ZHD (the resulting firm) and LINE with the aim of forming a business group that can overcome fierce domestic and global competition," SoftBank Group said in a statement.

The agreement would involve the purchase of shares with acquisition rights from Line - which is a Tokyo-based subsidiary of the South Korean internet search engine Naver Corp, according to SoftBank.

The SoftBank Group owns 45 percent of Z Holdings through its telephone subsidiary SoftBank Corp, while Naver controls 73 percent of Line.

Both the companies will hold an equal amount stake in ZHD, which will legally be a subsidiary of SoftBank.

At a press conference, Z Holdings President Kentaro Kawabe said that with this merger, the two companies aim to become the leading technology and artificial intelligence company in Asia.

The merger is expected to be completed in October 2020, pending the decision of the regulatory authorities.

Line is the most popular messenger app in Japan with around 82 million users and is also available in other Asian nations including Taiwan and Thailand.

Line has been facing difficulties attracting new users and the high development costs have been taking a toll on the company. It recorded losses of 33.9 billion yen (around $310 million) between January to September.

Once it is completed, the agreement will create a combined platform with more than 100 million users of financial services, e-commerce and other areas that could change Japan's digital landscape.

The negotiations come at a time when SoftBank Group's investment business is not at its best. The telecom giant's profit fell by almost 50 percent between April to September due to the devaluation of its investments in the US firm WeWork.

After the announcement of the merger, the shares of Z Holdings and Line at the Tokyo Stock Exchange increased by 1.19 percent and 2.19 percent respectively. EFE

© 2019 EFE News Services (U.S.) Inc., source EFE Ingles

Stocks mentioned in the article
ChangeLast1st jan.
SOFTBANK CORP. 0.28% 1600 End-of-day quote.23.74%
SOFTBANK GROUP CORP. 1.82% 6661 End-of-day quote.-17.34%
Z HOLDINGS CORPORATION 0.33% 738.1 End-of-day quote.18.21%
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Analyst Recommendations on Z HOLDINGS CORPORATION
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Financials
Sales 2022 1 568 B 14 309 M 14 309 M
Net income 2022 89 168 M 814 M 814 M
Net Debt 2022 261 B 2 381 M 2 381 M
P/E ratio 2022 66,5x
Yield 2022 0,77%
Capitalization 5 607 B 51 215 M 51 178 M
EV / Sales 2022 3,74x
EV / Sales 2023 3,27x
Nbr of Employees 22 531
Free-Float 34,5%
Chart Z HOLDINGS CORPORATION
Duration : Period :
Z Holdings Corporation Technical Analysis Chart | 4689 | JP3933800009 | MarketScreener
Technical analysis trends Z HOLDINGS CORPORATION
Short TermMid-TermLong Term
TrendsBullishBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 14
Last Close Price 738,10 JPY
Average target price 728,08 JPY
Spread / Average Target -1,36%
EPS Revisions
Managers and Directors
Kentaro Kawabe President, Co-CEO & Representative Director
Takeshi Idezawa Representative Director & Co-CEO
Ryosuke Sakaue Group CFO & Senior Managing Executive Officer
Chiaki Fujimon Group Chief Technology Officer
In-Joon Hwang Chief Global Investment Office
Sector and Competitors
1st jan.Capi. (M$)
Z HOLDINGS CORPORATION18.21%51 023
ALPHABET INC.58.30%1 881 830
BAIDU, INC.-28.55%56 459
NAVER CORPORATION37.78%50 860
YANDEX N.V.13.64%28 719
SOGOU INC.9.20%3 390