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SoftBank to create Japan internet rival to take on GAFA tech giants

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Yahoo Japan and Line combination driven by fear that global giants are increasing their grip on the tech industry and Japan risks falling behind

18 November 2019 - 20:48Tokyo — Masayoshi Son, after backing start-ups around the world, is engineering a complex deal on his home turf to create a national champion that can more effectively compete with global rivals such as Google and Amazon.com.

The internet industry often operates on the winner-takes-all principle and the strong only get stronger.Together, Line and Yahoo Japan, which now operates as Z Holdings, will be able to share engineering resources, access broader sets of data and invest more in areas such as artificial intelligence, the chief executive officers said in a Tokyo press conference.

“We want to become an AI tech company that leads the world from Japan,” said Kentaro Kawabe, CEO of Z Holdings. Kawabe wore a bright green tie, Line’s trademark hue, while Idezawa donned one in Yahoo Japan red. “Big data is key for the future of both companies,” said Koji Hirai, the head of M&A advisory firm Kachitas. “The merger will enable them to create a massive repository of client data.”

Line and Yahoo Japan are betting they can leverage local knowledge to stay in the race in their home country and markets where their services are popular, including South Korea, Taiwan, Thailand and Indonesia.Yahoo Japan was once the country’s leading search engine, web portal and major e-commerce player, but has lost ground as users migrated from PCs to smartphones.

 

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