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Line-Yahoo Japan marriage

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New entity to compete with global AI giants

A joint venture involving Japanese messaging app Line Corp. and internet portal Yahoo Japan Corp. is designed to create a leading artificial intelligence (AI) company that can compete with global IT giants. The deal is drawing keen attention as it was agreed to between South Korea's largest internet portal Naver Corp. and Japanese telecom giant SoftBank Group Corp. Naver holds a 73-percent stake in Line, while SoftBank owns 45 percent of Z Holdings Corp. that operates Yahoo Japan.

Line and SoftBank said in a joint statement Monday that they agreed to set up the 50-50 joint venture called Z Holdings. The two are set to sign a formal contract........

© The Korea Times