Yahoo Japan Corporation
Yahoo Japan Corporation (President and Representative Director, CEO: Kentaro Kawabe; hereinafter “Yahoo! JAPAN”) has decided to transfer all of the shares of YJFX, Inc., its wholly-owned subsidiary (President CEO: Yoshifumi Matsumoto; hereinafter “YJFX”) to GMO Financial Holdings, Inc. (President: Hiroyasu Kito; hereinafter “GMO-FH”, and the share transfer hereinafter “Share Transfer”). The price of the Share Transfer will be approximately JPY 28.8 billion. The gain on the Share Transfer is being calculated and is scheduled to be recorded in the second quarter of fiscal 2021.
As a result of this Share Transfer, the shareholder of YJFX will change from Yahoo! JAPAN to GMO-FH, and the trade name to Gaika ex byGMO, Inc. After the Share Transfer, YJFX will become a subsidiary of GMO-FH and will create synergies with the GMO-FH Group companies that have strengths in online financial services for individual investors to achieve further growth.
The completion of the Share Transfer and the change in the trade name is scheduled to be in late September 2021. The services provided by YJFX will continue to be available after the Share Transfer and there are currently no plans to change the names of the services provided.
Please note that this Share Transfer is on the condition that an approval of the Japan Fair Trade Commission is obtained.
Outline of GMO-FH
Trade name GMO Financial Holdings, Inc.
Head office SHIBUYA FUKURAS, 1-2-3, Dogenzaka, Shibuya-Ku, Tokyo
Representative President Hiroyasu Kito
Business activities Management of group companies and subsidiaries and other related operations
Capital JPY 705,580,700
Date of incorporation January 4, 2012
On July 31, 2020, YJFX has announced that its trade name will be changed to PayPay FX Corporation. However, if the approval of the Japan Fair Trade Commision is obtained and the Share Tranfer is executed, the change in the trade name to PayPay FX Corporation is scheduled to be cancelled.
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.