Shulou(Shulou.com)11/24 Report--

CTOnews.com, June 9 (Xinhua)-- Line, owned by Z Holdings (ZHD), has planned to cancel the lease on the 10th floor of Tokyo's Sitani Tower and will close its office in Osaka in the summer, while Yahoo Japan plans to close its Nagoya office in December to cut merger costs, Bloomberg reported. According to the previous plan, Line and Yahoo Japan will complete the integration in October.

A spokesman for ▲ Touyuan LineLine confirmed the matter. Line currently employs about 3100 people, is headquartered on the 31st floor of the Sigu Tower, has a coffee shop, an auditorium that can accommodate about 200 people and a mother-and-baby center that can take care of babies, but the office area was closed in April.

Employees of the Sitani office will be concentrated in the Norii Building, where Yahoo Japan is currently located, but the two sides have no plans to sign a new floor lease contract. In addition, the spokesman also said that Line still has offices in Tokyo Ozaki and Nanshinjuku, while Yahoo also has offices in Sapporo, Sendai, Fukuoka and Naha, but the two sides will consider whether to close some of these offices.

In April, ZHD announced its results for the fourth quarter of fiscal year 2023 (January-March), with sales of 433.8 billion yen (CTOnews.com Note: currently about 22.211 billion yuan), an increase of about 7% over the same period last year, but the increase in personnel costs led to a net loss of 1.3 billion yen (currently about 66.56 million yuan) for the quarter. In the same period last year, it made a net profit of 10.5 billion yen (currently about 538 million yuan).

Ozawa, CEO of ZHD, said that the integration of Line and Yahoo Japan would reduce fixed costs by 30 billion yen (currently about 1.536 billion yuan) and would reduce office size and recruitment plans at the same time.

A spokesman for Line also said that in addition to reducing costs, the adjustment of office space will also lead to more flexible ways of working. Yahoo Japan currently supports telecommuting, and the integrated Line can also decide whether to implement the telecommuting strategy as a team.

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