SoftBank "Line Yahoo Capital Change, No Agreement with Naver at This Point"

CEO "Discussing Capital Review at LineYahoo's Request"

The Japanese government has requested Line Yahoo to reconsider its capital relationship with Naver, and SoftBank announced on the 9th that it is in discussions with Naver to review their capital relationship.

[Image source=Yonhap News]

Junichi Miyakawa, CEO of SoftBank, stated at the earnings briefing on the same day, "Line Yahoo announced yesterday that it will sequentially terminate its business consignment relationship with Naver," and explained, "At Line Yahoo's request, we are discussing a capital review from the perspectives of security governance and business strategy."

However, he added, "At this point in the discussions, no agreement has been reached."

Earlier, Takeshi Idezawa, CEO of Line Yahoo, emphasized at the earnings briefing the previous day, "We are currently strongly requesting changes to the parent company's capital," and stressed, "The fundamental premise is that SoftBank will become the largest shareholder."