SoftBank's internet subsidiary Z Holdings outlined plans on Monday to invest 500 billion yen ($4.7 billion) in technology over five years with a focus on artificial intelligence. The announcement follows the completion of the merger of its internet business Yahoo Japan with chat app operator Line, creating a $30 billion internet heavyweight. Z Holdings is targeting sales of 2 trillion yen and operating income of 225 billion yen in three years, the firm said in a statement. Z Holdings retains its listed status, one of a number of such firms among SoftBank's domestic holdings, despite calls for Japanese firms to unwind such structures. Z Holdings also controls online fashion retailer Zozo Inc and office supplies firm Askul Corp. ($1 = 106.5600 yen)

Source: The Hindu March 01, 2021 12:28 UTC