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Business deals

Line-Yahoo Japan to invest $1bn a year to bring in new customers

Merger plan officially announced, drawing the attention of antitrust regulators

From left, Z Holdings President Kentaro Kawabe and Line President Takeshi Idezawa shake hands during a press conference in Tokyo on Nov.18 . (Photo by Ken Kobayashi)

TOKYO -- Line and Yahoo Japan will invest at least 100 billion yen ($917 million) a year to improve personalized advertisements and other services after their merger is completed, pledged Line CEO Takeshi Idezawa.

The deal, which will create an internet platform serving over 100 million people in a challenge to U.S. and Chinese tech giants such as Amazon and Alibaba, and which was first reported by Nikkei earlier this month, was officially announced on Monday.

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