Naver-SoftBank Joint Venture Named 'A Holdings' Confirmed
[Asia Economy Reporter Bu Aeri] The joint venture name between Naver and SoftBank was finalized as 'A Holdings' on the 24th.
Naver's Japanese subsidiary Line and SoftBank's subsidiary Z Holdings (operator of Yahoo Japan) have been pursuing a business integration since November 2019. Naver and SoftBank each hold half of the shares in A Holdings, and under A Holdings, Z Holdings operates Line and Yahoo Japan.
The company name will be changed on the 28th. The inaugural representatives will be Lee Hae-jin, Naver founder and Global Investment Officer (GIO) of Naver, and Ken Miyauchi, CEO of SoftBank, serving jointly.
The board of directors will include Hwang In-jun, CFO of Line; Kazuhiko Fujihara, CFO of SoftBank; and Mitsunobu Koshiba, chairman of the board of JSR Corporation. The chairman position will be held by CEO Ken Miyauchi.
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Regarding the meaning of A Holdings from SoftBank's side, it was explained that it contains the meaning of 'A-to-Z,' signifying synergy creation across the entire group, a focus on artificial intelligence (AI) business areas, and the intention to expand business targeting Asia.
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