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Japan's Z Holdings, Yahoo and Line announce merger

Internet companies intend to speed up decision-making and reignite growth

Line President and CEO Takeshi Idezawa will become president of Z Holdings on April 1.

TOKYO -- Japan's Z Holdings announced that it will merge with its two wholly owned subsidiaries -- internet portal Yahoo Japan and messenger app LINE -- in an effort to revamp operations and speed up decision-making.

The internet-focused holding company also announced the appointment of Line President and CEO Takeshi Idezawa as president, effective April 1. Current President Kentaro Kawabe will become chairman with the right to represent the company.

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