SoftBank Corp. (TSE:9434) entered into letter of intent to acquire remaining 40.05% stake in LINE MOBILE Corporation from LINE Corporation (TSE:3938) on December 22, 2020. As of March 31, 2020, LINE MOBILE Corporation reported total assets of ¥9.8 trillion, sales of ¥4.9 trillion, operating income of ¥0.9 trillion and net income of ¥0.5 trillion. The impact of this absorption-type merger on business results will be minor. As of February 19, 2021, The Business Integration Parties will implement the remaining Transactions, including a shareholding adjustment transaction through which the NAVER Parties and SoftBank will each hold 50% of the voting rights of LINE. As a result of the Aggregate Fractional Shares Acquisition, SoftBank Corp. and NAVER are the only holders of Common Shares. Accordingly, on February 19, 2021, New York City time, LINE will file with the SEC a certification on Form 15 to suspend its reporting obligations under the Exchange Act. As of March 30, 2021, Board of Directors of SoftBank approved the transaction. Transaction is expected to close on April 9, 2021.

SoftBank Corp. (TSE:9434) completed the acquisition of remaining 40.05% stake in LINE MOBILE Corporation from LINE Corporation (TSE:3938) on October 22, 2021.