To whom it may concern
October 19, 2012
Yahoo Japan Corporation
Manabu Miyasaka, President & CEO Stock code: 4689
Notification Regarding Change to Specified Subsidiary
The following investment partnership has been deemed a
specified subsidiary of Yahoo
Japan Corporation. Details are as follows.
1. Reasons for the change to a specified subsidiary
Along with the completion of settlement payments for
investments made under an investment partnership agreement,
the total investment in the investment partnership exceeded
10% of Yahoo Japan Corporation's paid-in capital, resulting
in the investment partnership being legally deemed a
specified subsidiary of Yahoo Japan Corporation.
2. Outline of Investment Partnership Becoming Specified
Subsidiary
(1) Name: YJ1 Investment Partnership
(2) Head Office: 9-7-1 Akasaka, Minato-ku, Tokyo
(3) Representative: Managing partner, YJ Capital Inc.
(4) Main business: Purchase and holding of marketable
securities and equity investments
(5) Establishment: September 20, 2012
(6) Ownership ratio: Yahoo Japan Corporation, 80%; YJ Capital
Inc., 20% (7) Paid-in investment: ¥1 billion (at September
20, 2012)
(8) Relationship with Yahoo Japan Corporation
Capital ties: Yahoo Japan Corporation has an 80% stake, with
the Company's wholly owned subsidiary YJ Capital Inc. holding
the remaining 20%.
Personnel ties: Two of the directors of the managing partner
of YJ Capital Inc. (wholly owned subsidiary of the Company)
are seconded from Yahoo Japan Corporation.
Business ties: The Company's wholly owned subsidiary YJ
Capital Inc. receives compensation for management
services.
3. Investment Stake and Proportion of Total Investment of
Company in Deemed Specified
Subsidiary Before and After Change
(1) Company's investment stake in deemed specified subsidiary
(investment units) Before change: -
After change: 10 investment units
(Company's investment stake, 8 units; total investment ¥800
million) (Subsidiary YJ Capital Inc.'s investment stake, 2
units; ¥200 million)
(2) Company's proportion of total investment in deemed
specified subsidiary
Before change: - After change: 100% (Company's proportion:
80%)
(Subsidiary YJ Capital Inc.'s proportion: 20%)
4. Date of Change
September 20, 2012
5. Outlook
The effect of changing the investment partnership to a
specified subsidiary on the
Company's consolidated and non-consolidated performances is
expected to be minor.
Z Holdings Corporation is a holding company organized around 3 areas of activity:
- operation of e-commerce portals (69.5% of net sales): primarily operation of the Yahoo! Japan Shopping, PayPay Mall, ASKUL, Lohaco, Zozotown, Line Friends and Line Gift online stores. In addition, the group operates online auction platforms (Yahuoku!, PayPay Flea Market, etc.), online hotel and travel booking platforms (Yahoo! Japan Travel, Ikyu Travel, etc.) and electronic payment and financial services platforms (PayPay Card, PayPay Bank, LINE Securities, etc.) ;
- media services (28.2%): Internet advertising and marketing services, operation of generalist portals providing Internet tools and services (search engines, e-mail, discussion forums, electronic diaries, instant messaging, etc.), and content ( e-books, video content, thematic directories, news, etc.);
- other (2.3%).