Naver and SoftBank to form joint venture

“Once the move is concluded, Z Holdings will effectively run Line, Yahoo Japan, Yahoo Shopping, ZOZO, and Japan Net Bank. The move will secure “Japan and Asia’s largest user base” and create synergy to compete against global platform businesses, the pair said.

Naver and SoftBank will apply artificial intelligence in the future to continue growth in financial technology through the integration, they said.

Chat app Line boasts 82 million users worldwide and Yahoo Japan 50 million.”

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