July 31, 2020
To whom it may concern
Z Holdings Corporation Kentaro Kawabe President and CEO Stock Code: 4689
SoftBank Corp.
Ken Miyauchi
President & CEO
Stock Code: 9434
Integration of Financial Service Brands in the Z Holdings Group and
Changes in the Trade Names of Consolidated Subsidiaries
Z Holdings Corporation ("ZHD"), Z Financial Corporation ("ZF") and SoftBank Corp. ("SB") have decided to integrate the names of the six financial business firms under their arms, and the names of their services to "PayPay" brand. This will take effect sequentially from the fall of 2020. Regarding the change of company names, each of the six financial business firms have resolved at their board meetings to change their trade names on the condition that the "Partial Amendment to the Articles of Incorporation" will be approved at their respective meetings of the shareholders. Details are as follows.
1. Background to changes in trade names
PayPay Corporation, funded by Yahoo Japan Corporation ("Yahoo! JAPAN") which is one of the core firms of ZHD, provides a smartphone payment service named "PayPay". The service is rapidly growing to be used by many users, and its cumulative users exceeded 30 million (as of end of June 2020).
Since last year, Yahoo! JAPAN has bolstered its ties with "PayPay" by introducing "PayPay" payment in its online services, providing benefits such as "PayPay Bonus Lite", launching e-commerce services named "PayPay Flea Market" and "PayPay Mall", etc. As a result, Yahoo! JAPAN has captured "PayPay" users that are rapidly increasing, and has expedited the growth of its commerce business.
In hopes that a familiar name will encourage users to use our services with affection, we have decided to integrate the names of the companies and services to the "PayPay" brand to strengthen the ties with "PayPay" in financial services such as banking, credit card, and insurance, provided by the financial firms under the arms of ZHD and SB, and to grow our finance business.
Disclaimer
This is an English translation of the captioned release. This translation is prepared and provided for the purpose of the reader's convenience. All readers are recommended to refer to the original version in Japanese of the release for complete information.
2.Changes in the names of the financial business firms and services
From fall 2020, we plan to sequentially change the names of the six financial business firms under the arms of ZHD and SB, and the names of the services provided by these companies to names with the "PayPay" brand or to begin providing new services with the "PayPay" brand. The changes in the names of the companies are subject to the approval in the shareholders meetings of the respective companies, and approval, etc. from government agencies, if needed.
Current name | New name | ||
Name of company | Name of service | Name of company | Name of service |
YJ Card | Yahoo! JAPAN Card | PayPay Card | PayPay Card |
Corporation | Corporation | Yahoo! JAPAN Card (to be | |
continued) | |||
The Japan Net | The Japan Net Bank | PayPay Bank | PayPay Bank |
Bank, Limited | Corporation | ||
One Tap BUY Co., | One Tap BUY | PayPay Securities | PayPay Securities |
Ltd. | Corporation | ||
Y's Insurance Inc. | Yahoo! JAPAN Insurance | PayPay Insurance | PayPay Insurance |
Service Corporation | |||
YJFX, Inc. | YJFX! | PayPay FX | PayPay FX |
Corporation | |||
Astmax Asset | Yjam | PayPay Asset | PayPay Investment Trust |
Management, Inc. | Management | ||
Corporation | |||
3. Future financial business
The group companies of ZHD provide users with numerous platforms in search, e-commerce, payment, travel and others, which promote user actions such as "search", "purchase", "pay" and "reserve". ZHD aims to enhance its "Scenario finance initiative", whereby it proposes the financial product that best fits the needs when users initiate actions in the platforms provided by ZHD. In January 2020, ZHD began providing "YAHUOKU! Warranty" which allows users to subscribe to an insurance in one stop when they purchase items in YAHUOKU!
The implementation of the "Scenario finance initiative" will increase users' convenience in their purchase of financial products and when applying to the products. In the ZHD Group, this will strengthen its sales of financial products as well as increase the appeals of its e-commerce platforms, etc. that provide these services.
In addition, by strengthening the ties with "PayPay" we plan to introduce ZHD Group's financial services such as loan and insurance in PayPay app. This will help realize PayPay's "Super app initiative", which aspires to make the users' lives richer and more convenient.
Please note that we plan to conduct various promotional measures together with the integration of service brands from this fall, including the promotional measure for PayPay Card.
Throughout the entire group, ZHD and ZF will aspire to deliver user-friendly and convenient financial services to our users, and to largely grow our financial business.
4. Consolidated subsidiaries of ZHD
-
Change in the trade name of YJ Card Corporation
① Outline of consolidated subsidiary
Present trade name | YJ Card Corporation | ||
Location | 3-4-2,Hakata-ekimae,Hakata-ku,Fukuoka-shi, Fukuoka | ||
Name | and title | of | Satoshi Ando, President and Representative Director |
representative | |||
Description of business | Credit card, card loan, credit guarantee business | ||
Capital | JPY 100 million (As of March 31, 2020) | ||
Parent | company | and | Yahoo Japan Corporation 100% |
shareholding ratio |
- New trade name PayPay Card Corporation
- Conditions to the change
Approval of the "Partial Amendment to the Articles of Incorporation" at YJ Card Corporation's meeting of the shareholders.
- Date of the board of directors resolution in regards to the change in the trade name July 31, 2020; the date of change in trade name will be notified when determined.
(2) Change in the trade name of The Japan Net Bank, Limited
- Outline of consolidated subsidiary
Present trade name | The Japan Net Bank, Limited | ||
Location | 2-1-1,Nishi-shinjuku,Shinjuku-ku, Tokyo | ||
Name | and title | of | Tomohito Takusari, President and Representative Director |
representative | |||
Description of business | Banking business | ||
Capital | JPY 37,250 million (As of March 31, 2020) | ||
Parent | company | and | Z Financial Corporation 46.6% |
shareholding ratio | |||
- New trade name PayPay Bank Corporation
- Conditions to the change
Approval of the "PartialAmendment to theArticles of Incorporation" at The Japan Net Bank, Limited's meeting of the shareholders, and approval, etc. from government agencies.
- Date of the board of directors resolution in regards to the change in the trade name July 31, 2020; the date of change in trade name will be notified when determined.
-
Change in the trade name of Y's Insurance Inc.
① Outline of consolidated subsidiary
Present trade name | Y's Insurance Inc. | ||
Location | 1-3, Kioicho, Chiyoda-ku, Tokyo | ||
Name | and title | of | Tatsuya Yamamoto, President and CEO |
representative | |||
Description of business | Life/Non-life insurance agency business | ||
Capital | JPY 30 million (As of March 31, 2020) | ||
Parent | company | and | Yahoo Japan Corporation 60% |
shareholding ratio | |||
- New trade name
PayPay Insurance Service Corporation
- Conditions to the change
Approval of the "Partial Amendment to the Articles of Incorporation" at Y's Insurance Inc.'s meeting of the shareholders.
- Date of the board of directors resolution in regards to the change in the trade name July 30, 2020
(4) Change in the trade name of YJFX, Inc.
- Outline of consolidated subsidiary
Present trade name | YJFX, Inc. | ||
Location | 1-3, Kioicho, Chiyoda-ku, Tokyo | ||
Name | and title | of | Yoshifumi Matsumoto, President CEO |
representative | |||
Description of business | Financial instruments business | ||
Capital | JPY 490 million (As of March 31, 2020) | ||
Parent | company | and | Yahoo Japan Corporation 100% |
shareholding ratio |
- New trade name PayPay FX Corporation
- Conditions to the change
Approval of the "Partial Amendment to the Articles of Incorporation" at YJFX, Inc.'s meeting of the shareholders.
- Date of the board of directors resolution in regards to the change in the trade name July 29, 2020
- Change in the trade name of Astmax Asset Management, Inc. ① Outline of consolidated subsidiary
Present trade name | Astmax Asset Management, Inc. |
Location | 1-1, Kanda Nishiki-cho,Chiyoda-ku, Tokyo |
Name and title of | Daigo Akemaru, President and Representative Director |
representative |
Description of business | Financial instruments business |
Capital | JPY 95 million (As of March 31, 2020) |
Parent company and | Yahoo Japan Corporation 50.1% |
shareholding ratio |
- New trade name
PayPay Asset Management Corporation
- Condition to the change
Approval of the "Partial Amendment to the Articles of Incorporation" at Astmax Asset Management, Inc.'s meeting of the shareholders.
- Date of the board of directors resolution in regards to the change in the trade name July 31, 2020; the trade name is scheduled to be changed on March 8, 2021.
5.Consolidated subsidiary of SB
(1) Change in the trade name of One Tap BUY Co., Ltd.
- Outline of consolidated subsidiary
Present trade name | One Tap BUY Co., Ltd. | ||
Location | 6-10-1, Roppongi, Minato-ku, Tokyo | ||
Name | and title | of | Masaaki Uchiyama, CEO Representative Director, President |
representative | |||
Description of business | Securities business | ||
Capital | JPY 5,175 million (As of July 31, 2020) | ||
Parent | company | and | SoftBank Corp. 66.1% |
shareholding ratio | |||
- New trade name
PayPay Securities Corporation
- Conditions to the change
Approval of the "Partial Amendment to the Articles of Incorporation" at One Tap BUY Co., Ltd.'s meeting of the shareholders.
- Date of the board of directors resolution in regards to the change in the trade name July 29, 2020
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Z Holdings Corporation published this content on 31 July 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 31 July 2020 03:05:06 UTC