DOCSLIB.ORG

Notice of the 18Th Ordinary General Meeting of Shareholders

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Notice of the 18Th Ordinary General Meeting of Shareholders Note: This document has been translated from the Japanese original for reference purposes only. In the event of any discrepancy between this translated document and the Japanese original, the original shall prevail. The Company assumes no responsibility for this translation or for direct, indirect or any other forms of damages arising from the translation. LINE Notice of the 18th Ordinary General Meeting of Shareholders Date: 10:00 a.m., Thursday, March 29, 2018 Location: “Prince Hall,” 5th floor, Annex Tower, Shinagawa Prince Hotel 4-10-30 Takanawa, Minato-ku, Tokyo Please note that the location is changed from the last meeting. LINE Corporation Securities code: 3938 - 1 - CLOSING THE DISTANCE Our mission is to bring people, information and services closer together. To our shareholders and investors I would first like to take this opportunity to thank our shareholders for their continued support and interest in LINE. As part of our Smart Portal strategy, we launched LINE SHOPPING and other new services in 2017 and continued to steadily expand existing services, such as LINE Pay and LINE NEWS. The advertising business also gained momentum, making a significant contribution to revenue growth. In anticipation for a world after smartphones, we launched the AI assistant Clova and began selling Clova-embedded smart speakers in autumn 2017. We also enhanced initiatives to address social issues, including working with authorities to create LINE-based helplines. In 2018, we plan to steadily grow existing businesses while making strategic moves in areas such as AI and Fintech to increase shareholder value. I hope we can receive your continued support as we work to deliver the LINE Group’s business strategy. Takeshi Idezawa, Representative Director and President - 2 - Securities code: 3938 March 8, 2018 To our shareholders Takeshi Idezawa, Representative Director and President LINE Corporation 4-1-6 Shinjuku, Shinjuku-ku, Tokyo Notice of the 18th Ordinary General Meeting of Shareholders You are cordially invited to attend the 18th Ordinary General Meeting of Shareholders of LINE Corporation (the Company), which will be held as described below: 1. Date: 10:00 a.m., Thursday, March 29, 2018 2. Location: “Prince Hall,” 5th floor, Annex Tower, Shinagawa Prince Hotel 4-10-30 Takanawa, Minato-ku, Tokyo (Please note that the location is changed from the last meeting.) 3. Agenda: Items To Be Reported: 1. Report on the Business Report and Consolidated Financial Statements for the 18th business term (from January 1, 2017 to December 31, 2017), and the results of the audit on the Consolidated Financial Statements by the Accounting Auditor and the Board of Corporate Auditors 2. Report on the Non-consolidated Financial Statements for the 18th business term (from January 1, 2017 to December 31, 2017) Notes: You are kindly requested to present the enclosed attendance card for the general meeting of shareholders to the receptionist when you attend the meeting. To conserve natural resources, please bring this notice with you. Please note that persons other than shareholders who can exercise voting rights, such as proxy agents who are not shareholders or those accompanying shareholders, will not be permitted to enter the meeting venue. In the event of situations requiring amendments to items in the Business Report, Consolidated Financial Statements or Non-consolidated Financial Statements, amended items will be posted on the Company’s website (https://linecorp.com/en/ir/stock). Internet-based Disclosure The following items are posted on the Company’s website in accordance with laws and regulations and Article 16 of the Articles of Incorporation of the Company, they are not provided in this Notice. 1) Consolidated Statements of Change in Equity and Notes to Consolidated Financial Statements 2) Non-consolidated Statements of Changes in Equity and Notes to Non-consolidated Financial Statements URL: https://linecorp.com/en/ir/stock - 3 - Attached materials Business Report From January 1, 2017 to December 31, 2017 1. Current Condition of Corporate Group (1) Business progress and results 1) Overview The LINE Group pushes ahead with its Smart Portal strategy. Under the strategy, we aim to bring about a world in which our LINE communication application (LINE) acts as a gateway, to encompass all aspects of people’s lives. As of December 31, 2017, LINE MAUs* in the Group’s four key countries (Japan, Taiwan, Thailand and Indonesia) were 167.5 million, up 0.3% from the previous fiscal year-end, while MAUs in Japan increased by 7.4 million to 73 million during the fiscal year. Also, the DAUs**/MAUs ratio, which indicates the level of engagement with users, remained high in the four key countries, at 75%. LINE had a particularly dominant position in the Japanese market, where the DAUs/MAUs ratio was 84%. The high frequency of use that LINE enjoys places the Group in a dominant position in terms of strategy promotion and future business expansion. Using LINE as a platform, the Group is actively rolling out a wide range of services in two areas – stickers, news, manga, games and other services in the content area, and payment, mobile communication services, job search information and other services in the daily life area. In fiscal 2017, as a result of employing such tactics as launching new products and functions for its various services and interlinking services with other services in order to increase the number of users and the frequency of their use, the Group expanded settlement volume for services including LINE Pay, LINE Manga, and LINE MUSIC. Advertising services, which the Group has been developing for the strong content and services on the LINE platform, showed strong growth with a year-on-year increase in revenue of 39.9% due to measures such as increasing the number of advertisements and enhancing functions of the advertising platform, which helped drive the Group’s overall revenue growth. Moreover, the Group launched new services such as LINE SHOPPING and LINE Delima, and moved into the field of artificial intelligence (AI) as part of its post smartphone strategy. As a result of the above, the consolidated operating results of the Group were as follows. Revenues totaled 167.1 billion yen, a new record for the Group, increasing 18.8% year on year. Profit from operating activities was 25.1 billion yen, a year-on-year increase of 26.0%, despite increases in business consignment expenses and personnel expenses accompanying business expansion. Profit attributable to the shareholders of the Company was 8.1 billion yen, a year-on- year increase of 19.4%. * Monthly Active Users (MAUs) in a given month refers to the number of user accounts that (i) launched LINE or LINE GAME from mobile devices; (ii) sent messages through LINE or any other LINE application from personal computers or mobile devices, in each case at least once during that month. ** Daily Active Users (DAUs) in a given day refers to the number of user accounts that (i) launched LINE or LINE GAME from mobile devices; (ii) sent messages through LINE or any other LINE application from personal computers or mobile devices, in each case at least once during that day. - 4 - - 5 - 2) Principal services and revenues by service Because the business of the Group consists of a single business segment, this information is presented by service. <Advertising> Principal service: Timeline/LINE NEWS ads, LINE Official Account, LINE@, Sponsored Sticker, Portal ads, etc. Revenues from Advertising increased by 39.9% year on year and became the driving force that boosted the Group’s overall revenues. Performance ads achieved significant growth with 2.5 times the previous fiscal year’s annual revenues. This was mainly the result of an expansion in advertisements including LINE NEWS, more sophisticated data usage, the enhancement of advertisement platform functionality, and an increase in advertisers. Revenues from messenger ads increased by 16.2% year on year due to an increase in the number of official accounts and LINE@ accounts in Japan and overseas. <Communication> Principal service: Stickers, Theme, LINE Out (Call), etc. Revenues from Communication increased by 3.2% year on year. The Group succeeded in launching new services such as New Year’s Stickers that include New Year’s gift money, “deco-moji” that are large and colorful emoji, and the “LINE Creators Studio” that allows users to easily create, submit and sell LINE stickers using only their smart phone. Also, initiatives are underway including improving products from popular creators of “creators’ stickers.” - 6 - <Content> Principal service: LINE GAME, LINE Manga, LINE Fortune, LINE MUSIC, etc. Revenues from Content overall decreased by 10.4% year on year. Specifically, in regard to LINE GAME, although sales for existing puzzle games were level, sales of new titles were unable to make up for the decrease in sales of existing titles. However, with the goal of taking on the new challenge of the mid-core games category, for which user demand is high, in 2017 the Group established the subsidiary, LINE GAMES Corporation, and the subsidiary acquired NextFloor Corporation. Settlement amounts increased substantially for content other than games, with LINE MANGA steadily growing as Japan’s No. 1 e-book app, and LINE MUSIC exceeding 43 million songs distributed. <Others> Principal service: LINE Pay, LINE Friends, LINE Mobile, LINE Part-time Job, etc. The annual transaction amount for LINE Pay in 2017 exceeded 450 billion yen, making 2017 a year of dramatic growth. In October 2017 the number of global monthly transactions exceeded 10 million, and in November the number of registered accounts exceeded 40 million. Additionally revenues from Others increased by 69.8% year on year due to the launch of 10 new LINE FRIENDS stores including a location in New York, and due to the significant growth of LINE Mobile.
Load more

Recommended publications
  • Search Seeing Flywheel Effect, but Global Still Needs Momentum
    NAVER (035420 KS ) Search seeing flywheel effect, but global still needs momentum Internet 2Q18 review: Revenue beats consensus, but OP misses; NP boosted by one-off gain Results Comment For 2Q18, NAVER’s revenue came in above the consensus, but operating profit missed. July 27, 2018 Positives: Revenue from the business platform segment (which includes the core search ad business) was stronger than expected, growing 17% YoY and surpassing W600bn for the first time on a quarterly basis. Ad performance improved, due to increased options for a mobile search ad offering , while shopping search ads also contributed to growth. LINE’s ad revenue also jumped 42% YoY. (Maintain) Buy At the parent IT platform and content services segments, revenue grew a robust 74% Target Price (12M, W) 1,000,000 and 27% YoY, respectively. The IT platform segment was helped by NAVER Pay’s increased transaction volume, while the content services segment was supported by traction in webtoons and V LIVE. Meanwhile, net profit was temporarily boosted by a Share Price (07/26/18, W) 751,000 W112.7bn gain from the disposal of subsidiary investments caused by the exclusion of LINE Mobile (a Japan-based MVNO subsidiary) from consolidation, as a result of Expected Return 33% Softbank’s investment. Negatives: The ad segment (which includes display ads) grew a weaker-than-expected OP (18F, Wbn) 1,106 11% YoY. The ad segment bears close watching, as it could be affected by NAVER’s mobile app overhaul planned in 3Q18. Agent/partner commissions and marketing Consensus OP (18F, Wbn) 1,108 expenses were higher than anticipated, mainly due to NAVER Pay.
    [Show full text]
  • The Impact of Mobile Mindfulness Meditation on Mental Health and Well-Being in University Students
    The impact of mobile mindfulness meditation on mental health and well-being in university students A thesis submitted in fulfilment of the requirements for the degree of Doctor of Philosophy (Psychology and Psychological Medicine) by Jayde Ana Michelle Flett University of Otago 2019 ii Abstract of a thesis submitted in fulfilment of the requirements for the Degree of Doctor of Philosophy (Psychology and Psychological Medicine) The impact of mobile mindfulness meditation on mental health and well-being in university students by Jayde Ana Michelle Flett Mindfulness meditation is a common psychotherapy informed by Buddhist mindfulness that is gaining traction outside of the clinic. One area that is particularly popular is mobile mindfulness meditation, the use of applications (apps) to deliver mindfulness. Given the relative newness of these apps and the high turnover rate of app technology, few studies have rigorously examined the effectiveness of mindfulness meditation apps for improving mental health. Thus, in a series of pragmatic, randomised, controlled trials, I investigated the effects of mindfulness meditation apps on university students’ mental health. In this thesis I report the effects of Study 1, a randomised, controlled trial examining the effect of app-based mindfulness meditation on mental health and adjustment to college life in a convenience sample of undergraduate psychology students (Study 1). Here, I found that app-based mindfulness was associated with small but significant improvements in a range of mental health and
    [Show full text]
  • LINE PPT Template (Global)
    LINE Q2 2019 Earnings Results LINE Corporation July 24, 2019 Disclaimer This presentation contains forward-looking statements with respect to the current plans, estimates, strategies and beliefs of LINE Corporation (the “Company”). Forward- looking statements include, but are not limited to, those statements using words such as “anticipate,” “believe,” “continues,” “expect,” “estimate,” “intend,” “project” and similar expressions and future or conditional verbs such as “will,” “would,” “should,” “could,” “might,” “can,” “may,” or similar expressions generally intended to identify forward-looking statements. These forward-looking statements are based on information currently available to the Company, speak only as of the date hereof and are based on the Company’s current plans and expectations and are subject to a number of known and unknown uncertainties and risks, many of which are beyond the Company’s control. As a consequence, current plans, anticipated actions and future financial positions and results of operations may differ significantly from those expressed in any forward-looking statements in the presentation. You are cautioned not to unduly rely on such forward-looking statements when evaluating the information presented and the Company does not intend to update any of these forward-looking statements. Risks and uncertainties that might affect the Company include, but are not limited to: 1. its ability to attract and retain users and increase the level of engagement of its users; 2. its ability to improve user monetization; 3. its ability to successfully enter new markets and manage its business expansion; 4. its ability to compete in the global social network services market; 5. its ability to develop or acquire new products and services, improve its existing products and services and increase the value of its products and services in a timely and cost effective manner 6.
    [Show full text]
  • View Annual Report
    As filed with the Securities and Exchange Commission on March 29, 2019 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 20-F (Mark One) ‘ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR È ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2018 OR ‘ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ‘ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of event requiring this shell company report For the transition period from to Commission file number 001-37821 LINE Kabushiki Kaisha (Exact name of Registrant as specified in its charter) LINE Corporation Japan (Translation of Registrant’s name into English) (Jurisdiction of incorporation or organization) JR Shinjuku Miraina Tower, 23rd Floor 4-1-6 Shinjuku Shinjuku-ku, Tokyo, 160-0022, Japan (Address of principal executive offices) Satoshi Yano Telephone: +81-3-4316-2050; E-mail: [email protected]; Facsimile: +81-3-4316-2131 (Name, telephone, e-mail and/or facsimile number and address of company contact person) Securities registered or to be registered pursuant to Section 12(b) of the Act. Title of Each Class Name of Each Exchange on Which Registered American Depositary Shares, each representing New York Stock Exchange, Inc. one share of common stock Common Stock * New York Stock Exchange, Inc. * Securities registered or to be registered pursuant to Section 12(g) of the Act.
    [Show full text]
  • Cleary Gottlieb Steen & Hamilton LLP One Liberty Plaza New York, NY
    Cleary Gottlieb Steen & Hamilton LLP Simpson Thacher & Bartlett One Liberty Plaza ICBC Tower - 35th Floor New York, NY 10006 3 Garden Road, Central United States of America Hong Kong January 17, 2020 U.S. Securities and Exchange Commission 100 F Street, N.E. Washington D.C. 20549 Attention: Ted Yu, Esq., Chief Christina Chalk, Esq. Joshua Shainess, Esq. Office of Mergers and Acquisitions Division of Corporation Finance Re: Request for Exemption from Rule 14e-5 for Statutory Put in NAVER Corporation and SoftBank Corp.’s Joint Cash Tender Offer for LINE Corporation Dear Mr. Yu, Ms. Chalk and Mr. Shainess: We are writing on behalf of our respective clients, NAVER Corporation, a Korean corporation (“NAVER”), and SoftBank Corp., a Japanese corporation (“SoftBank,” and together with NAVER, the “Offerors”). The Offerors intend to jointly commence a cash tender offer (the “Offer”) for all of the issued and outstanding shares of common stock (including American Depositary Shares (“ADSs”), each representing one share of common stock), share options and convertible bonds of LINE Corporation, a Japanese corporation (the “Company”), in each case excluding those held by NAVER or by the Company as treasury shares (collectively, the “Target Securities”). We are writing to request that the Securities and Exchange Commission (the “Commission”) grant an exemption from compliance with the provisions of Rule 14e-5 under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), in order for the Company to make certain purchases of its shares of common stock outside the Offer as required by Japanese law. I. Background A. The Company The Company is a provider of a global platform for mobile messaging and communications services, content distribution and life and financial services, headquartered in Japan.
    [Show full text]
  • Annual Report 2011
    Annual Report 2011 For further information please contact [email protected] GSMA London Office T +44 (0) 20 7356 0600 Use For Outer Covers ONLY.indd 1 01/06/2011 10:47 GSMA — Mobile Money for the Unbanked Team Members The GSMA Mobile Money for the Unbanked Team MMU_Report27.05.11.idml 4 31/05/2011 14:11 Annual Report 2011 1 Yasmina McCarty Manager 2 Paul Leishman Manager 3 Neil Davidson Manager 1 2 3 4 Claire Penicaud Coordinator 5 Seema Desai Director 4 5 6 6 Camilo Tellez Analyst MMU_Report01.06.11.indd 5 01/06/2011 16:05 Contents Intoduction 1—4 Introduction Chapter 1 7—18 Is there really any money in Mobile Money? Chapter 2 19 —38 Mapping and effectively structuring operator-bank relationships to offer Mobile Money for the unbanked Chapter 3 39—72 Driving customer usage of Mobile Money for the unbanked Chapter 4 73—78 Enabling different paths to development of Mobile Money ecosystems Chapter 5 79—88 Case study: Mobile Money in Paraguay Glossary 89—90 https://www.mmublog.org MMU_Report01.06.11.indd 6 01/06/2011 16:05 MMU_Report01.06.11.indd 7 01/06/2011 16:05 1—2 GSMA — Mobile Money for the Unbanked Introduction MMU_Report01.06.11.indd 8 01/06/2011 16:05 Annual Report 2011 Introduction One year on,the Mobile Money industry has doubled in size again Author: Seema Desai Over the last 12 months, the Mobile Money industry has doubled in size; and as the industry has grown, so has our understanding of what it takes to create a successful deployment.
    [Show full text]
  • The Rebirth of Japan Inc. Thanks to a Strong Showing from Exporters, Japan Has Racked up Five Quarters of Uninterrupted Economic Expansion; Its Best Run Since 2006
    #JapanTheWorldfolio Our World #TheWorldfolio Monday, July 31, 2017 This supplement to USA TODAY was solely produced by United WorldJAPAN Ltd., Suite 179, 34 Buckingham Palace Road, London SW1W 0RH – Tel: +44 (0)20 7305 5678 – [email protected] – www.unitedworld-usa.com The Rebirth of Japan Inc. Thanks to a strong showing from exporters, Japan has racked up five quarters of uninterrupted economic expansion; its best run since 2006. Its highly-specialized companies have found their footing once more in the global market, injecting a burst of newfound optimism into the economy ince Prime Min- aware we are going to build ister Shinzo Abe a factory in their garden,” ex- returned to office plains Mr. Inoue. “Even just in December 2012, 30 years ago, if a Japanese implementing his company went to Thailand pro-growth policy dubbed they would start ‘mowing SAbenomics, corporate earn- the lawn’. They would make ings have surged, while U.S. a ceremony, put a Japanese and Chinese demand for flag and claim that territory Japanese products has driv- as theirs without reserva- en profits up by nearly 40% tion. I prohibited that. We from fiscal 2000 to 2016. are building our company in Japan, which experienced their garden so we should be breakneck economic growth low profile, and that’s why I throughout the postwar era appoint local people as man- only to plunge abruptly into agers. The Japanese are only recession in the early 1990s, advisors in this case. This is a is now showing encouraging principle I always keep.” signs of emerging from its Indeed, INOAC’s U.S.
    [Show full text]
  • Notice of the 20Th Ordinary General Meeting of Shareholders
    Note: This document has been translated from the Japanese original for reference purposes only. In the event of any discrepancy between this translated document and the Japanese original, the original shall prevail. The Company assumes no responsibility for this translation or for direct, indirect or any other forms of damages arising from the translation. LINE Notice of the 20th Ordinary General Meeting of Shareholders Date: 10:00 a.m., Thursday, March 26, 2020 Location: “Prince Hall,” 5th floor, Annex Tower, Shinagawa Prince Hotel 4-10-30 Takanawa, Minato-ku, Tokyo No souvenirs will be provided to shareholders attending the General Meeting of Shareholders, for which we would appreciate your understanding. LINE Corporation Securities code: 3938 - 1 - CLOSING THE DISTANCE Our mission is to bring people, information and services closer together. To our shareholders and investors I would first like to take this opportunity to thank our shareholders for their continued support and interest in LINE. We took a further leap forward in 2019, in which the number of domestic users of our LINE mobile messaging application exceeded 83 million (an increase of 4 million from the previous year) and the number of users in overseas countries also exceeded 81 million. LINE Pay, a mobile P2P transfer and payment service, has also obtained new users and achieved a steady increase in settlement volume, driven by cashless payments, tax increases and other factors. Furthermore, we have significantly expanded our service lineup, examples of which include the provision of new financial services such as our proprietary scoring service LINE Score and a new mobile investment service LINE Securities, the establishment of LINE Healthcare Corporation for online healthcare business, and the provision of a takeout service LINE Pockeo.
    [Show full text]
  • Notice Concerning Entry Into a Definitive Agreement Relating To
    December 23, 2019 SoftBank Corp. NAVER Corporation Notice Concerning Entry into a Definitive Agreement Relating to the Business Integration of Z Holdings Corporation (Securities Code: 4689) and LINE Corporation (Securities Code: 3938) SoftBank Corp. (hereinafter “SoftBank”), NAVER Corporation (hereinafter “NAVER”, and SoftBank and NAVER are collectively referred to as the “Proposing Parties”), Z Holdings Corporation (Securities Code: 4689, listed on the first section of the Tokyo Stock Exchange, Inc. (hereinafter, the “TSE”)), a consolidated subsidiary of SoftBank (hereinafter “ZHD”), and LINE Corporation (Securities Code: 3938, listed on the first section of the TSE), a consolidated subsidiary of NAVER (hereinafter “LINE”), have, since November 18, 2019, been discussing and evaluating a business integration between ZHD and its subsidiaries (hereinafter, the “ZHD Group”) and LINE and its subsidiaries (hereinafter, the “LINE Group”) (hereinafter, the “Business Integration”) based on the Memorandum of Understanding regarding the Business Integration on an equal basis that was entered into between the four companies on November 18, 2019 (hereinafter, the “Integration MOU”), and in accordance with the resolutions of the Board of Directors of each of NAVER, ZHD and LINE at a meeting held today, and in accordance with the decision of Ken Miyauchi, Representative Director, President & CEO, who has been authorized in accordance with the resolution of the Board of Directors of SoftBank at a meeting held today, the four companies have today entered
    [Show full text]
  • Notification on Changes in Representative Director and Appointment of Directors/Officers
    March 1, 2021 To whom it may concern Z Holdings Corporation Kentaro Kawabe President and Representative Director Stock Code: 4689 Notification on Changes in Representative Director and Appointment of Directors/Officers Z Holdings Corporation (hereinafter the “Company”) hereby announces the change in representative director, which was resolved by the Board of Directors today, and the appointment of directors and officers as of March 1, 2021. 1. Change in Representative Director (1) Reason for change As announced in “Announcement Regarding Definitive Agreement on Business Integration” dated December 23, 2019 and “Announcement Regarding Schedule for Implementation of the Business Integration” dated August 3, 2020, and based on the Definitive Agreement on Business Integration concluded between the Company, A Holdings Corporation (former trade name: LINE Corporation; hereinafter “A Holdings”), SoftBank Corp., and NAVER Corporation on December 23, 2019, LINE Corporation (former trade name: LINE Demerger Preparatory Company; hereinafter “LINE”) and the Company have executed a share exchange as of today, in which the Company is the wholly owning parent company and LINE is the wholly owned subsidiary. As a result, the business integration between the Company and its subsidiaries, and LINE and its subsidiary (hereinafter “Business Integration”) has been completed. The change in the representative director is due to the Board of Directors’ resolution to add Takeshi Idezawa as the Company’s representative director as of today, accompanying the completion of the Business Integration (Note). (Note) As stated in “2. Board of directors and officers as of March 1, 2021” below, there will be two with the title, Representative Director, Co-CEO, and Kentaro Kawabe will be appointed as President and Representative Director, Co-CEO (Co-Chief Executive Officer) and Takeshi Idezawa as Representative Director, Co-CEO (Co-Chief Executive Officer).
    [Show full text]
  • Notice Regarding Change in Specified Subsidiary
    May 27, 2020 Company: LINE Corporation Representative: Takeshi Idezawa, CEO Stock Code: 3938 (First section of the Tokyo Stock Exchange) Notice Regarding Change in Specified Subsidiary LINE Corporation (hereinafter the "Company"), resolved at the meeting of Board of Director held today to transfer shares in LINE Digital Frontier Corporation, a consolidated subsidiary (hereinafter "LDF"), to Webtoon Entertainment Inc. (hereafter " Webtoon Ent"). With this transaction, the Company expects to record income from the loss of control of LDF in the third quarter consolidated financial statement for the fiscal year ending December 2020. 1. Background LDF provides LINE Manga, a digital comic service in Japan market, while Naver Webtoon Corporation (hereafter " Naver Webtoon”) provides WEBTOON, a digital comic service in South Korea and US markets. Both companies have agreed to integrate LINE Manga and WEBTOON services to strengthen relationships with aim to further expand on a global scale. In order to accomplish this goal, it has been decided that Webtoon Ent, as Naver Webtoon’s controlling company, will hold 100% ownership of LDF shares. The Company will allocate the transfer price of LDF shares to acquire Webtoon Ent shares, where the ownership ratio is expected to be 33.4%. 2. Summary of Share Transfer (1) Company Name : LINE Digital Frontier Corporation (2) Transferee : Webtoon Entertainment Inc. (3) Date of transfer : Scheduled for early August 2020 (4) Percentage of transfer : 70％ (5) Income from loss of control : In process of assessment The final amount to be recorded will be determined after the transfer of shares in early August 2020 and the third quarter consolidated financial statement for the fiscal year ending December 2020.
    [Show full text]
  • “Clova”, an AI Assistant by LINE Users Can Get Dinner
    August 7, 2018 transcosmos inc. transcosmos offers a new skill for “Clova”, an AI assistant by LINE Users can get dinner menu ideas by saying “Clova, start Harapeco Bangohan” transcosmos inc. (Headquarters: Tokyo, Japan; President and COO: Masataka Okuda), on August 7, 2018, released its proprietary service “Harapeco Bangohan (“Hungry, let’s have dinner!”)” as a new skill for “Clova”, an AI assistant offered by LINE Corporation (Headquarters: Tokyo, Japan; Chief Executive Officer: Takeshi Idezawa). “Harapeco Bangohan!” helps anyone who has trouble coming up with everyday dinner menus. Just by saying “Clova, open “Harapeco Bangohan!” and “give me some menu ideas for tonight”, the service comes up with dinner menu suggestions from as many as 145 main dishes and 55 side dishes. What’s more, users can also get suggestions for “one more dish” (a side dish or soup) from “Japanese”, “Western”, “Chinese”, and “Korean” cuisines by simply saying “Clova, open “Harapeco Bangohan!” ” and “give me some ideas for one more dish.” With this new hands-free service, users can get dinner menu ideas - which isn’t as easy as you think - whilst taking care of household chores and their kids, without the use of a smartphone, a must-have item before. <How to use> Users can start the service simply by selecting “Harapeco Bangohan” at LINE Clova in-app skills or using voice command to activate the app by saying “Clova, start Harapeco Bangohan” directly to Clova compatible devices. Visit Clova skill store here: https://clova-skill-store.line.me/appbridge?target=main * If LINE Clova app is not installed, users will be redirected to the app store to download the app.
    [Show full text]