Z Holdings

Z Holdings Corporation is a Tokyo-based holding company. Z Holdings owns Yahoo! Japan, Japan's largest portal website; Line, Japan's largest messaging app; and PayPay, Japan's largest mobile payment app.[2]

Z Holdings Corporation
Native name
Zホールディングス株式会社
TypePublic
TYO: 4689
IndustryInternet and Telecommunications
Founded31 January 1996 Edit this on Wikidata
Headquarters
Tokyo
,
Japan
Area served
Worldwide
ProductsYahoo! Japan, PayPay, Line
ServicesYahoo! Japan, Line App, Line Manga, Line Play, Line Taxi
OwnerA Holdings (63,9%)[1] (Softbank Group and Naver Corporation)
SubsidiariesYahoo Japan Corporation
Line Corporation
PayPay
Websitewww.z-holdings.co.jp

Z Holdings is a subsidiary of a holding company called A Holdings, which is owned half each by SoftBank Group and Naver Corporation.[3][4] And, under the agreement by SoftBank and Naver Corporation, A Holdings is a consolidated subsidiary of SoftBank.

After finishing its merger of Yahoo! Japan and Line Corporation in March 2021, the company had a $43 billion market capitalization.[5]

History

Originally, the company was established as Yahoo Japan Corporation in January 1996, but on October 1, 2019, it changed to a holding company structure due to a company split and changed its corporate name.[6]

Due to the reorganization of the group centered on Yahoo Japan Corporation in 2019, the information and communication business division (Yahoo! JAPAN business) was absorbed and split into Yahoo Japan Corporation, and the financial enterprise management division Was split into Z Financial Co., Ltd. and transferred to a holding company, and is responsible for the management function of the entire group centered on subsidiaries from the time of the first corporation.

On November 2019 an announcement was made that a joint venture between Softbank Corp and Naver Corporation was agreed upon to merge the Z holdings corporation with LINE.[7] Under which LINE, as well as various other assets of the Z Holdings Corporation, would be controlled by another holding company called A Holdings Corporation.[8] The A Holdings Corporation ownership was then split 50% between Naver and Softbank Corp.[9]

The agreement between SoftBank and NAVER stipulates the following matters regarding the operation of A Holdings, and A Holdings is a consolidated subsidiary of SoftBank. Therefore, Z Holdings, a consolidated subsidiary of A Holdings, will continue to be a consolidated subsidiary of SoftBank after the business integration.

-The number of directors will be five, three of whom will be appointed by SoftBank and the other two by NAVER. The number of representative directors shall be two, one each to be appointed by SoftBank and NAVER.

-The number of auditors shall be two, one each to be appointed by SoftBank and NAVER.

-NAVER agrees to SoftBank's consolidation of A Holdings, provided that SoftBank's voting rights in A Holdings are at least 50%.


In March 2021 Line Corporation officially merged with Yahoo! Japan, which had been operated by Z Holdings.[10] Upon integrating the two businesses and creating further platforms, the merged company aims to compete with the U.S. tech giants Google, Amazon, Facebook, and Apple and the Chinese tech giants Baidu, Alibaba, and Tencent,[11] as well as the Japanese e-commerce giant Rakuten.[10] The merger also gives Z Holdings three additional Asian markets where Line is popular: Taiwan, Thailand, Indonesia, and Malaysia.[10]

Founded in 2021, LINE Bank is a commercial bank headquartered in Taipei, Taiwan, and owned by Z Holdings.[12][13][14]

Timeline
  • 2019
    • October 1-Implemented the following organizational restructuring and transitioned to a holding company structure .

Of the Yahoo Japan Corporation (first corporation) businesses, the businesses excluding the group business management business (Yahoo! JAPAN business) were absorbed and split into Kioimachi Split Preparation Co., Ltd. (the trade name was changed to Yahoo Japan Corporation (second corporation) on the same date). Business transfer by. Among the businesses of Yahoo Japan Corporation (the first corporation), the business management business of a financial group company was transferred to Kioicho Financial Split Preparation Co., Ltd. (the trade name was changed to Z Financial Co., Ltd. on the same day) by a simple split. Yahoo Japan Corporation (the first corporation) will be engaged only in the group business management business excluding financial services, and changed its trade name to Z Holdings Co., Ltd. on the same date .

    • November 13-The takeover bid for ZOZO Co., Ltd. was completed, and on the same day, 50.10% of the issued shares were acquired and made into a consolidated subsidiary.
    • November 18-Basic agreement with LINE Corporation on business integration .
    • December 18-Transferred shares held by SoftBank Corp. to Shiodome Z Holdings Co., Ltd., a wholly owned subsidiary, and became a consolidated subsidiary of the company .
    • December 23-Final agreement on business integration with Softbank, Naver, and LINE .
    • December 27-Corporate venture capital (English version) related business is absorbed and split into a wholly owned subsidiary Yahoo Japan Corporation .
  • 2021
    • February 26-LINE Co., Ltd. acquired the shares of the Company held by Shiodome Z Holdings GK through a takeover bid, and LINE Co., Ltd. absorbed Shiodome Z Holdings GK. LINE Co., Ltd., which became the new parent company, will be a 50-50 stake between Naver and Softbank.
    • February 28-The parent company LINE Co., Ltd. transferred the business to LINE Split Preparation Co., Ltd. and changed its trade name to A Holdings Co., Ltd. [15]
    • March 1-LINE Co., Ltd. (2nd generation, former LINE Split Preparation Co., Ltd.) became a wholly owned subsidiary through a share exchange.[16]

References
  1. "Z HOLDINGS CORPORATION : Shareholders Board Members Managers and Company Profile | JP3933800009 | MarketScreener". www.marketscreener.com. Retrieved 18 April 2022.
  2. Ito, Kazunori (2021-05-16). "Z Holdings' Margin Expansion to Be Slower Because of Increasing Costs; Revise FVE to JPY 500". Morningstar, Inc. Archived from the original on 2021-06-05. Retrieved 2021-06-06.
  3. "Naver and SoftBank's A Holdings joint venture established". koreajoongangdaily.joins.com. March 2021. Retrieved 2022-07-28.
  4. sbn_13 (29 March 2021). "The New Z Holdings: Two Internet Giants in Asia Unite to Become a World-leading AI Tech Company". SoftBank News. Bringing IT closer to home. Retrieved 2022-07-28.
  5. Inagaki, Kana (2021-03-04). "SoftBank-backed Z Holdings seeks mega-deal to shake up online world. Newly merged $43bn group wants to create alternative to US and Chinese social media giants". Financial Times. Archived from the original on 2021-03-04. Retrieved 2021-06-06.
  6. "FAQ | Investor Relations | Z Holdings Corporation". www.z-holdings.co.jp. Retrieved 2022-07-28.
  7. sbn_13 (29 March 2021). "The New Z Holdings: Two Internet Giants in Asia Unite to Become a World-leading AI Tech Company". SoftBank News. Bringing IT closer to home. Retrieved 2022-07-28.
  8. "Notice Concerning Name Change and Structure of Strategic Holding Company After Business Integration of Z Holdings Corporation and LINE Corporation | About Us". SoftBank. Retrieved 2022-07-28.
  9. "NAVER: New Z Holdings Launch Positive for NAVER's Corporate Value". Businesskorea (in Korean). 2021-03-02. Retrieved 2022-07-28.
  10. "Yahoo Japan operator, Line merge to take on foreign tech giants". Kyodo News. 1 March 2021. Retrieved 9 November 2021.
  11. Masuda, Yoko (1 March 2021). "Yahoo Japan, Line integrate businesses to be major '3rd force'". The Asahi Shimbun. Retrieved 9 November 2021.
  12. "Line Bank to trial this week, launch by next month".
  13. "Internet-only LINE Bank Commences Trial Operations in Taiwan".
  14. "Japan's LINE Banks on Fintech in Taiwan".
  15. "Zホールディングス株式会社とLINE株式会社の経営統合に伴う戦略的持株会社の商号の変更および体制に関するお知らせ" (Press release). ソフトバンク株式会社・NAVER Corporation. 2021-02-24. Retrieved 2021-03-06.
  16. "Yahoo Japan, Line merge to form tech giant". NHK.
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