"Accelerating System Separation"... Line Yahoo Continues to Draw a Line from Naver (Update)

Line Yahoo has reaffirmed its intention to accelerate the severance of ties with Naver.

On the 18th, Takeshi Idezawa, CEO of Line Yahoo, stated at the shareholders' meeting, "We will push to complete the separation of employee systems and authentication from Naver Cloud within this year."

Originally, the plan was to complete the system separation from Naver by 2026, but they intend to expedite this.

CEO Idezawa said, "We will terminate consignment relationships with Naver in almost all business areas in Japan, including service sectors."

Recently, Line has distanced itself from Naver by ending services developed by Line, such as the simple payment service 'Line Pay,' in Japan.

However, no specific stance was given regarding the share sale issue. Line Yahoo stated, "Nothing has been decided at this point," and added, "If any facts requiring disclosure arise, including a review of capital relations, we will promptly inform the public."

Currently, Naver and SoftBank are negotiating the sale of shares in A Holdings, the holding company of Line Yahoo. SoftBank and Naver each hold 50% of A Holdings' shares. Separately, Line Yahoo must submit a report on the second administrative guidance from Japan's Ministry of Internal Affairs and Communications by July 1.

Meanwhile, SoftBank is preparing for its shareholders' meeting on the 20th. Attention is focused on whether SoftBank Chairman Masayoshi Son and other executives will reveal their stance on the share sale negotiations with Naver.