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SoftBank

SoftBank unit to invest $4.7bn in Yahoo-Line integration

Japanese tech giant to hire 5,000 AI engineers and launch new services

Kentaro Kawabe, president and co-CEO of Z Holdings (left) and Takeshi Idezawa, also co-CEO attend the online news conference on Monday. (Screenshot from Z Holdings website)

TOKYO -- SoftBank Group affiliate Z Holdings on Monday said it will invest 500 billion yen ($4.7 billion) and hire 5,000 AI engineers over five years after completing a merger with popular messaging app Line.

By launching new services and creating synergies in businesses like online advertising, the combined entity aims to generate 2 trillion yen in revenue and 225 billion yen in operating profit by fiscal year 2023.

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