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Japan FTC approves Yahoo-Line integration

Z Holdings' PayPay smartphone payment service and Line's Line Pay service have a market share of about 55 percent and 5 percent, respectively. (Shutterstock)
Z Holdings' PayPay smartphone payment service and Line's Line Pay service have a market share of about 55 percent and 5 percent, respectively. (Shutterstock)
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05 Aug 2020 01:08:41 GMT9
05 Aug 2020 01:08:41 GMT9

TOKYO: Japan’s Fair Trade Commission approved Tuesday the planned business integration of Z Holdings Corp., the parent of internet portal Yahoo Japan Corp., and free messaging app provider Line Corp..

In exchange for the approval, the antitrust watchdog required them to submit for three years after the integration annual reports on the market size and competitive environments regarding their smartphone-based payment services, which together account for 60 percent of the total domestic market for such services.

Z Holdings’ PayPay smartphone payment service and Line’s Line Pay service have a market share of about 55 percent and 5 percent, respectively.

The FTC said that the Z Holdings-Line integration will not amount to hampering competition in the business area if an environment allowing individuals and corporations to choose smartphone payment services of other companies is secured.

Concerned about the possibility of the business integration influencing price competition, however, the FTC said that it would take action under the antimonopoly law in case it finds antitrust problems through checking the annual reports from the integrated entity.

Meanwhile, the commission said that the business integration will unlikely block competition in the news distribution and ad markets.

With US, South Korean and Taiwanese antitrust authorities having already approved the planned business integration, Z Holdings and Line are planning to complete the unification procedures in March next year.

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