Impact of Changes in LINE’s Management Policy and Fluctuations in Its Voting Rights Ratio
First written in FY2018. . Latest entry: FY2026-H1.
The whole theme swung hardest in 2024: 4 of 17 companies on the "Worse" side.
8 other companies' latest entry also says "Other".
- FY2026-H1Major shareholder ownership updateAnnual report
「LY Corporation 39,378,600 35.36」
LY Corporation’s ownership ratio as a major shareholder was updated from the previously stated 35.3% to 35.36%. - FY2025Major shareholder ownership updateAnnual report
「LY Corporation is a major shareholder owning 35.3% of our shares.」
LY Corporation’s ownership ratio as a major shareholder was updated from 37.4% to 35.3%. - FY2024Major shareholder composition updateAnnual report
「LY Corporation is a major shareholder owning 37.4% of our shares.」
The major shareholder relationship was updated following the change from LINE Corporation to LY Corporation, with LY Corporation’s voting rights ownership ratio stated as 37.4%. - FY2024-Q2Change in major shareholder name and ownership structure updateAnnual report
「As a result, LINE Corporation ceased to qualify as a major shareholder of our company. Effective 1 October 2023, Z Holdings Corporation changed its corporate name to LY Corporation.」
LINE Corporation ceased to qualify as a major shareholder, and Z Holdings Corporation changed its corporate name to LY Corporation. As of the end of February 2024, LY Corporation held 48,586,900 shares, representing 36.76% of the voting rights. - FY2022Update to major shareholder structure and voting rights ratiosAnnual report
「As a result of the third-party allotment and overseas offering with a payment date of 30 September 2021, Z Holdings Corporation and its subsidiary LINE Corporation are major shareholders owning 36.92% of our shares.」
The major shareholder structure formed by Z Holdings and LINE and their 36.92% ownership ratio following the third-party allotment and overseas offering were disclosed. - FY2022-Q2Update to major shareholder structure and voting rights ratiosAnnual report
「LINE Corporation 29,428,000 22.46 Mirai Fund Limited Liability Partnership 20,548,000 15.68 Z Holdings Corporation 19,158,900 14.62 NAVER Corporation 10,368,600 7.91」
The number of shares and ownership ratios held by LINE, Mirai Fund, Z Holdings and NAVER were updated as the major shareholder information at the end of February 2022. The Business and Other Risks section stated that there were no material changes. - FY2021ZHD and NAVER become other affiliated companiesAnnual report
「As Z Holdings Corporation subscribed for 19,158,900 shares and NAVER Corporation subscribed for 10,368,600 shares, respectively, of the shares issued by our company through a third-party allotment on 29 October 2021, Z Holdings Corporation and NAVER Corporation were other affiliated companies as of the date of submission of this Securities Report.」
As a result of the third-party allotment, Z Holdings and NAVER became other affiliated companies as of the date this filing was submitted. - FY2021-Q3Expansion of corporate group relationships and independent governance disclosuresAnnual report
「In addition to our former relationship with the NAVER corporate group, we will also have a relationship with the corporate group to which ZHD belongs. However, from the perspective of protecting the interests of minority shareholders, we are establishing our own corporate governance framework. Nevertheless, if LINE’s management policy changes in the future, its exercise of voting rights in our company may affect our business operations and decision-making with respect to matters requiring shareholder approval, such as amendments to our Articles of Incorporation.」
Following the management integration of LINE and ZHD, the company described its structure of having relationships with both the former NAVER corporate group and ZHD’s corporate group, and stated that it would establish its own corporate governance framework to protect minority shareholders. - FY2021-Q2Change in parent company structureAnnual report
「As LINE entered into a management integration with Z Holdings Corporation (hereinafter, “ZHD”) effective 1 March 2021, LINE’s parent company changed from NAVER Corporation (hereinafter, “NAVER”) to ZHD, and NAVER ceased to qualify as our parent company.」
The change in parent company structure reflects that NAVER ceased to qualify as our parent company following the management integration of LINE and ZHD. LINE held 35.8% of the voting rights and Mirai Fund held 25.0%; no business impact was stated. - FY2020NAVER's transition to parent company status and voting rights ratio change confirmedAnnual report
「NAVER Corporation will become the Company's parent company.」
NAVER Corporation's planned transition to parent company status was recorded as having occurred, with NAVER identified as the actual parent company in the status of consolidated subsidiaries and affiliates. Voting rights ownership ratios are 60.8% for NAVER, 35.8% for LINE and 25.0% for Mirai Fund. - FY2020-Q2NAVER's planned transition to parent company status and increase in voting rights ratioAnnual report
「Mirai Fund will become a new major shareholder of the Company, and NAVER Corporation, Mirai Fund's largest shareholder, is scheduled to become the Company's parent company.」
Following the third-party allotment, NAVER's voting rights ownership ratio, including indirectly held interests, is scheduled to increase from 21.70% to 60.93%, changing the relationship from an affiliate relationship through LINE to a relationship with NAVER as the parent company. - FY2019Changes in voting rights ratio and number of seconded officersAnnual report
「LINE Corporation owns 21.7% of the voting rights in the Company. LINE is classified as the Company's other related company, and the Company is an equity-method affiliate of LINE. LINE has seconded 1 director and 1 Audit & Supervisory Board member to the Company.」
LINE's voting rights ratio changed from 21.9% to 21.7%, and the number of seconded officers changed from 2 directors and 1 Audit & Supervisory Board member to 1 director and 1 Audit & Supervisory Board member. - FY2018First statedAnnual report
「LINE Corporation owns 21.9% of the voting rights in the Company. LINE is classified as the Company's other related company, and the Company is an equity-method affiliate of LINE. LINE has seconded 2 directors and 1 Audit & Supervisory Board member to the Company. However, the Company's group makes independent decisions regarding its management policies, policy decisions and business development, and the relationship remains favorable.」
Based on LINE's 21.9% voting rights interest, seconded officers and status as an other related company, the filing newly describes the risk that changes in LINE's management policy or substantial changes in its ownership ratio could affect business operations, decision-making and the share price.