Z Holdings, which owns IT giant Yahoo and communication app LINE, has announced a policy to merge three companies, including its own company, within the next fiscal year.
The purpose is to expedite management decision-making.
According to the announcement, the three companies plan to merge within the next fiscal year, and will set up a project team to consider details such as the method of merger.
Yahoo! JAPAN and LINE merged under the umbrella of Z Holdings in March 2018, and have been working on a wide range of online services such as SNS, advertising, and finance.
However, because the advertising business was sluggish due to the effects of the new coronavirus, etc., we hope to expedite management decision-making and expand group synergies through this merger.
In addition, with regard to LINE, it was discovered that users' personal information could be accessed from China two years ago, and a situation occurred in which the data management system was questioned, and the three companies merged to strengthen governance. We are also planning to
On the other hand, Z Holdings has announced new top personnel, and Kentaro Kawabe, who has been co-CEO until now, will be appointed as chairman, and Tsuyoshi Idezawa will be appointed as president and CEO on April 1. I decided.
Z Holdings President and Co-CEO Kawabe "Decline in competitiveness, strong sense of crisis"
Kentaro Kawabe, president and co-CEO of Z Holdings, said at an online press conference, ``The competitiveness of advertising products has declined compared to our competitors, and we have a strong sense of crisis. I thought we needed a bold and drastic move," he said, explaining the purpose of this merger.
In addition, he said, "Through the merger, we would like to expedite decision-making in group management, consolidate redundant functions and services within the group, and further promote cost control."