SoftBank Corp.'s group company controlling Yahoo Japan Corp. and major messaging app provider Line Corp. said Monday they have struck a basic merger accord.
Yahoo Japan operator Z Holdings Corp. under SoftBank, a mobile phone unit of SoftBank Group Corp., and Line said they aim to finalize the merger agreement next month. They plan to hold a joint press conference at 5 p.m.
The two companies hope to expand their internet businesses including online retailing, advertising and mobile phone services based on their customer data. The combined sales of Yahoo Japan and Line would be the largest among Japanese online business operators, surpassing Rakuten Inc.
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