Z Holdings Corporation
Yahoo Japan Corporation
Yahoo Japan Corporation Announces Entry Into Definitive Agreements with Oath Inc. and Oath Holdings Inc. Regarding Buy-Out of Yahoo! Japan License Agreement
Yahoo Japan Corporation (“Yahoo Japan”), a subsidiary of Z Holdings Corporation (“ZHD”), today announces that it has entered into definitive agreements with Oath Inc. and Oath Holdings Inc. regarding the acquisition of the Yahoo! JAPAN brand in Japan and termination of the Yahoo! Japan License Agreement (the “Definitive Agreements”).
The Definitive Agreements secure Yahoo Japan’s rights to the Yahoo Japan brand and licensed technology, and bring an end to all royalty payments pursuant to the Yahoo! Japan License Agreement. The changes effected by the Definitive Agreements will be complete upon the finalization of procedures related to the transfer of the Yahoo! JAPAN brand.
■Outline of the Definitive Agreements
・ Yahoo Japan acquires the trademark rights related to Yahoo and Yahoo Japan in Japan
・ Yahoo Japan acquires a paid-up perpetual right to use existing licensed technology in Japan, with ongoing technical support during a post-transaction services period
・ Brand and technology may be used in Japan throughout the ZHD Group
・ Termination of Yahoo! Japan License Agreement
・ Consideration for this transaction: JPY 178.5 billion
* The intangible assets, i.e., trademark rights, to be acquired under the Definitive Agreement are expected to be classified as indefinite-lived intangibles in the IFRS-applied consolidated financial statements. Although there will be no immediate impact on the full year guidance for the fiscal year ending March 31, 2022 announced on April 28, 2021, we believe the transaction will contribute to the enhancement of corporate value in the medium to long term. If any matters to be disclosed arise in the future, announcements thereof will be made promptly.
Unless otherwise specified, English-language documents are prepared solely for the convenience of non-Japanese speakers. If there is any inconsistency between the English-language documents and the Japanese-language documents, the Japanese-language documents will prevail.