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Yahoo Japan, Line to merge business to form online giant

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Online services Yahoo Japan and Line Corp. have announced they are merging.

Z Holdings Corp., which owns SoftBank Corp. that operates Yahoo Japan, and Naver Corp. of South Korea, which owns a majority stake in Line said Monday they are aiming for a final agreement by next month.

Their combined sales would be the largest among Japanese online business operators, surpassing Rakuten Inc., according to Kyodo news service. The integration will be carried out equally, according to the companies, but the price is expected to be decided in December. The new company will seek to answer to Japan's social needs such as a shrinking worker population and natural disasters, SoftBank said in a statement.

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