SoftBank Corp announced today that it has reached an agreement to merge with Z Holdings (the SoftBank subsidiary formerly known as Yahoo Japan) and Line Corp, in a move they hope will better position them against competitors. The merger, which was first reported by Nikkei last week, is expected to be completed in October 2020. SoftBank and Naver, the owner of Line, will each hold 50% of a new holding company that will operate Line and Z Holdings.