Naver Corporation - Business integration of Line Corporation and Z Holdings Corporation

Leading Japanese law firm Nishimura & Asahi advised Naver Corporation [KRX: 035420] (“Naver”), the South Korean internet giant, on the agreement among NAVER, its subsidiary Line Corporation [TSE: 3938; NYSE: LN] (“Line”), SoftBank Corporation [TSE: 9984] (“SoftBank”) and Softbank’s subsidiary, Z Holdings Corporation [TSE: 4689] (“ZHD”), the parent company of Yahoo Japan, to integrate Line and ZHD.

Upon completion, the combined company will continue to be listed on the Tokyo Stock Exchange, while becoming a consolidated subsidiary of SoftBank through a joint venture company, in which Naver and Softbank each hold a 50% stake.

The Nishimura & Asahi team advising Naver was led by partners Jiro Abe, Yoshiyuki Asaoka, Mitsutoshi Sugihara and Junya Kokaji, supported by associates Keitaro Hamada and Youngmin Kim.