SoftBank-backed Z Holdings will merge with its two wholly owned subsidiaries — Yahoo Japan and messaging app Line — by March 2024 to streamline its operations in a bid to position itself as a world-leading artificial intelligence company.
Z Holdings President Kentaro Kawabe made the announcement Thursday after the decision was approved by its board of directors, but details are yet to be made public.
Line President and Z Holdings co-CEO Takeshi Idezawa will become Z Holdings president on April 1, while Kawabe will become chairman.