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LY Corporation: Formation of New Tech Entity from Major Industry Players

Source: LY Corporation

Tokyo, Japan - The recent merger of several technology companies, including Z Holdings Corporation, LINE Corporation, Yahoo Japan Corporation, Z Entertainment Corporation, and Z Data Corporation, has created a new conglomerate: LY Corporation.

This reorganization will culminate on October 1, 2023.

Why it matters:  

The formation of LY Corporation from the merger of several tech companies could influence the direction of the tech industry, given the significant legacy and user base involved.

Each of the legal entities was a dominant player in online, e-commerce, and mobile as a platform.

The Key Points

A. Company Statistics:

  • Capital: JPY 247,904 million (as of March 31, 2023)
  • Fiscal year-end: March 31
  • Employees: Approximately 28,000 consolidated (March 2023) and over 10,000 standalone (September 2023)
  • Subsidiaries: 124 companies as of August 2023.

B. User Base:

  • Total users: More than 320 million.
  • Yahoo! JAPAN has 54.30 million monthly registered users, and LINE has 199 million monthly active users.
  • LY Corporation's services cover approximately 230 countries and regions, reflecting its extensive reach.

What Management Says:

CEO's Vision: Takeshi Idezawa, President, Representative Director, and CEO of LY Corporation, has articulated a vision rooted in the origins of Yahoo! JAPAN as a search engine in 1996 and LINE as a mobile messenger in 2011; Idezawa envisions LY Corporation as a bridge of utility and innovation for users.

Their motto: "Weaving technology to create "WOW!" moments.

Their robust user base, combined with the legacy of each company, positions them to be a formidable force in the technology arena.

As they embark on this new journey, the global community will closely watch their progress and anticipate the innovations they will bring.