LINE Corporation Acquires Shares Accompanying Transfer of Subsidiary
December 04 2017 - 2:00AM
Business Wire
LINE Corporation (NYSE:LN) (TOKYO:3938) (Headquarters:
Shinjuku-ku, Tokyo, Japan; Representative Director and CEO: Takeshi
Idezawa; the “Company”) announces as follows that it will acquire
all shares in FIVE Inc. (hereinafter “FIVE”), making it a
subsidiary of the Company. As this transaction does not fall under
the timely disclosure standards set forth by the Tokyo Stock
Exchange, a portion of the disclosure items and details have been
omitted.
1. Reasons for this Share AcquisitionSince the full-scale
introduction of its performance-based ads in June 2016, the Company
has shown steady growth in its business results. Meanwhile, FIVE,
which is engaged in the development and operation of a platform for
distributing video ads to smartphones, has used its advanced
technology to achieve rapid growth in the performance-based
advertising and brand advertising domains.The Company has
determined that making use of FIVE’s quality video ad platform’s
business base and its specialized video ad technologies will
contribute to speeding up the global growth and expansion of the
LINE Group’s ad distribution business, and thus will acquire all of
the shares in FIVE.
2. Overview of the Changing Subsidiary
(1) Company name FIVE Inc. (2)
Location Ebisu-West 5F, 1-16-15 Ebisunishi, Shibuya-ku,
Tokyo (3)
Name and title ofrepresentative
Keisuke Kanno, Representative Director (4)
Business Development and operation of platform for
distributing videos to smartphones (5) Total
capitalization 163,960,000 yen (6) Established
October 24, 2014 (7)
Relationship betweenLINE and the
changingsubsidiary
There are no capital, personnel, or business relationships.
3. Number of Acquired Shares and
Shareholding Status Before and After Acquisition
(1)
Shares owned prior tochange
0 shares(Percentage of voting rights ownership: 00.00%)
(2) Shares to acquire 1,448 shares (3)
Shares owned afterchange
1,448 shares(Percentage of voting rights ownership: 100.00%)
4. Schedule
(1) Signing of agreement December 4, 2017
(2)
Execution of sharetransfer
Mid-December 2017
5. Future ForecastThe impact of this Share Acquisition on the
Company’s consolidated results is expected to be minimal.
The Company has issued a press release today titled “LINE
Corporation Enters Capital and Business Alliance With FIVE Inc.”
(https://linecorp.com/en/pr/news/en/2017/1963) which provides
details of FIVE’s services and their synergy with the Company’s
businesses, as well as future business developments.
This is an English translation of the original Japanese-language
document. Should there be any inconsistency between the translation
and the original Japanese text, the latter shall prevail.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20171203005101/en/
LINE CorporationMichiko Setsu, +81-3 4316 2104Global
PRdl_gpr@linecorp.co
LINE (NYSE:LN)
Historical Stock Chart
From Mar 2024 to Apr 2024
LINE (NYSE:LN)
Historical Stock Chart
From Apr 2023 to Apr 2024