LINE Fukuoka Corporation (“LINE Fukuoka”) will change its trade name to LY Communications as of October 1, 2023.
Established in November 2013 as the LINE Group’s second domestic base, LINE Fukuoka has grown alongside the LINE app and its related services, becoming a location that can do everything from service ideation to post-release operation.
In March 2023, LINE Corporation (“LINE”) and Z Holdings Corporation (“ZHD”) concluded a business integration. As ZHD, LINE, and Yahoo Japan Corporation (“Yahoo! Japan”) continued to pursue high-priority initiatives (such as selectively concentrating their businesses and expanding synergies through the integration), LINE Fukuoka has continued to challenge itself as a part of the ZHD Group.
In order to accelerate the expansion of synergies and create sustained profit growth in addition to obtaining investment capital for shaping the future as an even more product-first organization, ZHD has decided to implement a merger centered around itself and its core wholly owned subsidiaries (LINE and Yahoo! Japan) into a new company, LY Corporation. This merger will be concluded¹ on October 1, 2023.
¹Note: This is the tentative date.
In conjunction with this merger, and in order to take communication with our users to the next level as well as deliver more WOW experiences than ever before, LINE Fukuoka is pleased to announce that the company is changing its trade name to LINE Fukuoka Corporation.
■ Reference
Decisions on Intra-Group Reorganization (Change of Second-Tier Subsidiaries Through Dividend Distributions in Kind by First-Tier Subsidiaries and Absorption-Type Mergers and Absorption-Type Company Splits with Wholly Owned Subsidiaries) and Change of Trade Name of a Subsidiary (July 12, 2023 Z Holdings Corporation Investor Relations News)
https://www.z-holdings.co.jp/en/ir/news/auto_20230712521007/pdfFile.pdf
■ Company Overview
Company name: LINE Fukuoka Corporation
Location: JRJP Hakata Bldg. 12F, 8-1 Hakataekichuogai, Hakata-ku, Fukuoka, Fukuoka Prefecture
Representative: Yusuke Suzuki, Representative Director, President, and CEO
Capital: JPY 490 million (As of March 2023)
Established: November 18, 2013
Main business activities: Development, creative, operation, planning, etc. for LINE and related services
https://linefukuoka.co.jp/en/