2024-07-16 17:08:52
The Asahi Shimbun reported on the 16th that SoftBank, the largest shareholder of Japan’s largest messenger app Line Yahoo, has decided not to discuss the acquisition of shares of Naver and Line Yahoo for the time being.
Accordingly, the current structure in which Naver and Softbank share the shares of Line Yahoo’s parent company A Holdings is likely to continue for the time being.
A SoftBank official said that they have been in ongoing discussions with Naver, but “we cannot make any moves at this time,” the Asahi Shimbun reported.
However, he explained that there is no change to the policy of pursuing stock purchases as a mid- to long-term task to make Line Yahoo a ‘Japanese platform’ in the future.
Last November, Line Yahoo received administrative guidance from the Japanese Ministry of Internal Affairs and Communications to review its capital relationship twice due to the issue of leaking Line messenger user information. After that, Softbank discussed purchasing some of Naver’s A Holdings shares, but analysis is emerging that it has become realistically difficult to discuss the issue as it has developed into a diplomatic conflict between Korea and Japan.
On the 5th, Japanese Minister of Internal Affairs and Communications Takeaki Matsumoto positively commented on the administrative guidance response report submitted by Line Yahoo on the 1st, saying, “It can be evaluated (positively) because it presents specific response contents for improvement in each area for which guidance was provided.”
At that time, Line Yahoo reported that it would be difficult to push forward with a short-term review of capital relations with Naver. In response, Minister of Internal Affairs and Communications Matsumoto stated, “We requested a review of security governance for user protection, and the review of capital relations itself is not the purpose of (administrative guidance).”
Tokyo = Correspondent Lee Sang-hoon [email protected]
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2024-07-16 17:08:52