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Line Corporation

LINE Corporation was a Japanese technology company that developed and operated the LINE messaging application, one of the world's most popular mobile communication platforms with over 180 million monthly active users globally. Founded on , 2000, as Hangame Japan—a subsidiary of the South Korean NHN Corporation (later renamed )—the company initially focused on online gaming services. It underwent a name change to NHN Japan Corporation in August 2003 and was rebranded as LINE Corporation on April 1, 2013, to reflect its growing emphasis on the LINE app, which had launched in June 2011 in response to the Tōhoku earthquake and tsunami to facilitate communication. Under LINE Corporation, the company evolved from a simple messaging service into a comprehensive "life platform" offering diverse mobile-first services, including fintech solutions like LINE Pay, entertainment options such as and , e-commerce, gaming, and AI-driven tools. Headquartered in , it expanded internationally with subsidiaries in countries like (LINE Plus), , , and , establishing itself as the leading messaging app in , , and . In July 2016, LINE Corporation went public through an on the and , marking one of the largest tech IPOs of the year and valuing the company at approximately $11 billion. Ownership evolved significantly over time, initially under 's control, before the 2016 IPO introduced broader shareholder base. In December 2020, the company announced its delisting from both stock exchanges effective December 29, 2020, to streamline operations as it became a wholly owned of Corporation, a between and formed in 2019. This move facilitated deeper integration with services. Finally, on October 1, 2023, LINE Corporation participated in a major reorganization, merging with Corporation and Corporation to create , one of Japan's largest technology firms with a combined user base exceeding 200 million across its platforms and operations in over 230 countries and regions. As part of , the LINE brand and services continue to operate, focusing on innovation in search, communications, advertising, and .

Overview

Founding and rebranding

Line Corporation traces its origins to September 4, 2000, when it was established as Japan, a of the South Korean NHN Corporation (now known as ), primarily focused on operating an online gaming portal. In the early 2000s, the company evolved its operations in by developing and distributing online games, building on the parent company's expertise in the gaming sector to establish a presence in the local market. The entity was renamed NHN Corporation in 2003 to align more closely with its parent company's branding. By 2013, amid a strategic pivot toward mobile communications—accelerated by the communication challenges following the 2011 Tohoku earthquake and tsunami—NHN Japan rebranded as Line Corporation on April 1 to emphasize its new focus on digital messaging services. Headquartered in , the company at this stage operated with a core team dedicated to this transition.

Core business and global reach

Line Corporation's core business centered on a mobile-first model, transforming the LINE messaging platform into an integrated lifestyle ecosystem that combined communication, , and offerings. This approach aimed to embed LINE into users' daily routines by providing seamless access to features such as payments via LINE Pay, music streaming through , and gaming, all within a single application. By leveraging its dominant position in mobile messaging, the company monetized through , sticker sales, and premium services, fostering user retention and cross-service engagement across its ecosystem. The company's global reach expanded significantly during its period of independence, peaking with over 186 million monthly worldwide by late . Japan remained the stronghold, accounting for approximately 84 million monthly and representing the largest market, while key international strongholds included , , and , where LINE captured substantial portions of the mobile messaging audience. This user base underscored LINE's appeal in , where it served as a primary communication and utility tool for hundreds of millions. To support international growth, Line Corporation adopted a localized expansion strategy, establishing subsidiaries like LINE Plus Corporation in March 2013 to manage non-Japanese operations and tailor services to regional preferences. LINE Plus, based in , focused on developing and scaling the platform's global infrastructure, including partnerships for content localization and market-specific features, which enabled rapid penetration in and beyond. By 2015, LINE had achieved approximately 90% in Japan's mobile messaging sector, solidifying its domestic dominance and providing a foundation for overseas scaling.

History

Origins as NHN Japan (2000–2012)

NHN Corporation, a South Korean internet company formed in 2000 through the merger of and Communications, established its Japanese subsidiary, Japan Corporation, on September 4, 2000, to localize and distribute popular South Korean online games for the market. The venture aimed to capitalize on the growing demand for accessible browser-based in , where high-speed adoption was accelerating but console dominance by local giants like and limited online opportunities. From inception, Japan operated under full ownership by NHN Corporation, which provided strategic support and resources to adapt casual game formats to preferences, including cultural localization of titles and user interfaces. The company's core offerings centered on the , a web-based platform featuring casual browser games such as card games, puzzles, and simple titles that required no downloads or specialized hardware, making them ideal for casual players. By 2003, Hangame Japan had merged with Naver's Japanese operations to form NHN Japan Corporation, enhancing its capabilities with search and community features while maintaining a focus on gaming. This period saw rapid growth, with the platform attracting millions of registered users by the mid-2000s and achieving over 100,000 peak concurrent users, positioning it as Japan's leading ahead of competitors like . Despite its successes, NHN Japan encountered significant challenges in the competitive Japanese market, including rivalry from established local portals such as and the emerging social networking site , which launched in 2004 and integrated gaming to build user communities. These obstacles tested NHN Japan's adaptability, but the company persisted by emphasizing models and community-building tools to foster user loyalty.

Launch of LINE and initial growth (2011–2015)

The LINE messaging application was developed by engineers at NHN Japan, a subsidiary of South Korea's Naver Corporation, in the aftermath of the March 2011 Tōhoku earthquake and tsunami, which severely disrupted traditional telecommunications infrastructure across Japan. With phone lines overwhelmed and unreliable, the app was created as an alternative for reliable communication using internet data, allowing users to send text messages and make voice calls without incurring standard telephony charges. NHN Japan, previously focused on online gaming services, pivoted to launch LINE publicly on June 23, 2011, initially targeting the Japanese market where immediate demand was high due to the disaster's lingering effects. LINE's core features at launch included free and voice calling over or mobile data, which quickly appealed to users seeking cost-effective alternatives to and traditional calls. In October 2011, the app introduced customizable sticker packs—playful, illustrated emoticons featuring characters like the bear and rabbit Cony—enhancing expressive communication and differentiating LINE from competitors like . These stickers proved instrumental in driving viral adoption, as users shared them freely within chats, fostering . By late 2011, LINE had reached approximately 1 million users in , reflecting rapid uptake amid the post-disaster need for connectivity, and expanded to over 100 million global registered users by January 2013, outpacing early growth of platforms like . Marketing efforts emphasized LINE's fun, accessible nature through viral sticker campaigns and partnerships with celebrities, particularly in and emerging Asian markets, where endorsements from pop stars and influencers amplified word-of-mouth sharing. Stickers became a cultural phenomenon, with themed packs tied to holidays, , and local trends encouraging daily engagement and premium purchases. This strategy propelled international expansion, including LINE's entry into in May 2012, where it quickly gained traction among young users for its low-data usage, and in September 2013, capitalizing on similar messaging preferences in the region. By 2014, LINE's operations in Japan achieved profitability for the first time, driven by sticker sales, advertising, and a dominant exceeding 50 million users domestically, marking a successful transition from its gaming roots to a leading communications platform. This milestone underscored the app's scalability, with global registered users surpassing 200 million by mid-2013 and continuing to grow through localized features and network effects in .

Expansion, IPO, and diversification (2016–2018)

In July 2016, LINE Corporation conducted a dual (IPO) on the (NYSE: LN) and the (TSE: 3938), pricing shares at $32.84 and raising approximately $1.1 billion in gross proceeds, marking the largest technology IPO of the year. The listing valued the company at over $9 billion on debut, reflecting strong investor interest in its dominant position in Asian mobile messaging. By mid-2016, LINE's global monthly active users had surpassed 220 million, with significant growth in key markets like , , , and , where two-thirds of users were concentrated. This user expansion supported revenue diversification beyond core messaging, with the company achieving total annual revenue of $1.3 billion in 2016, driven primarily by and in-app purchases such as digital stickers and , which accounted for a substantial portion of earnings. To bolster merchandising, LINE expanded its LINE Friends subsidiary, established in 2015, by opening international stores and licensing character-based products, enhancing brand monetization through retail and collaborations. In parallel, the company scaled its music streaming efforts via the LINE MUSIC joint venture, formed in 2014 with Sony Music Entertainment Japan and Avex, which integrated streaming services into the app and reached millions of users by 2016 through partnerships for content distribution. LINE also advanced its financial services with LINE Pay, launched in Japan in December 2014 as an integrated feature within the app. By 2018, LINE Pay had expanded to five countries, including (2015), and (2017), and , enabling cross-border transactions and merchant alliances to capture growing digital payment demand in .

Merger negotiations and delisting (2019–2020)

In November 2019, LINE Corporation announced a strategic business integration with Corporation, a equally owned by SoftBank Corporation and , to create a combined entity valued at approximately $30 billion. This alliance was driven by the need to consolidate resources and enhance competitiveness against global technology giants, including U.S.-based services like . The initial was signed on , 2019, outlining a structure where LINE and would operate under a unified , with SoftBank and each retaining 50% ownership post-integration. LINE, which had been majority-owned by since its early years, saw this as an opportunity to leverage ' domestic strengths in alongside its own international user base. Negotiations were led by LINE's President and CEO Takeshi Idezawa, who played a pivotal role in aligning the strategic visions of both companies and securing executive commitments, including his appointment as co-CEO of the new entity. A definitive was reached on , 2019, specifying the integration through a series of s and an absorption-type merger. The deal involved a joint for Z Holdings shares in May 2020, valued at around ¥372 billion, followed by a for LINE shares at ¥5,200 each—a 13.41% premium over the prior closing price. The share exchange ratio was set at 1 Z Holdings share for every 11.75 shares of the LINE successor company in the merger process. Regulatory scrutiny focused on antitrust implications in digital markets, with approvals from the Fair Trade Commission granted on August 4, 2020, subject to behavioral remedies to prevent in areas like search services and payments. Similar clearances were obtained from authorities in and other jurisdictions, addressing concerns over market concentration despite the delaying timelines. As part of the integration, LINE's common shares faced delisting from the , with trading suspension effective December 28, 2020, following an application filed on December 17, 2020. Shares were also delisted from the First Section of the on December 29, 2020, after being designated as "securities to be delisted" earlier that month. This process coincided with a decline in LINE's stock price, which had peaked at around ¥6,000 in 2018 post-IPO but traded near ¥5,200 by the time of delisting announcements.

Integration with Z Holdings (2021–2022)

On March 1, 2021, Corporation completed its business integration with LINE Corporation, establishing A Holdings Corporation as the new entity to manage the combined operations, with LINE operating as a wholly owned subsidiary under . This structure allowed for joint ownership by and , each holding approximately 50% of A Holdings, while enabling streamlined governance and resource sharing across the group. The integration involved significant restructuring efforts, including the consolidation of overlapping services such as digital payments, where LINE Pay was aligned with Yahoo Japan's platform; starting in late April 2021, LINE Pay users gained access to over 3 million merchants in , facilitating unified . Workforce integration combined the operations of more than 23,000 employees from both entities, focusing on harmonizing teams across , operations, and support functions to leverage complementary strengths in messaging, , and content delivery. Key initiatives during this period emphasized technological advancement and service , including enhanced development through the establishment of Z AI Academia in July 2021, aimed at fostering AI expertise by combining and perspectives within the group. committed 500 billion yen over five years to AI infrastructure and planned to recruit 5,000 engineers to drive innovations in personalized services and data analytics. Cross-promotion efforts linked LINE's communication platform with services, such as integrating advertising and content distribution to expand user engagement in areas like information access and financial transactions. The integration process presented challenges, including elevated expenses from accounting adjustments and operational alignment, which pressured operating margins despite overall revenue growth from the expanded service portfolio. These costs arose from system migrations, employee onboarding, and initial redundancies in administrative functions, contributing to short-term financial strain as the group pursued long-term synergies.

Dissolution into LY Corporation (2023)

In February 2023, Corporation announced plans for a full merger involving itself, , and Corporation to form a unified entity, with the integration set to take effect on , 2023. This move marked the dissolution of as an independent entity, as it was absorbed into the new structure alongside other subsidiaries such as Z Entertainment Corporation and Z Data Corporation. The merger was executed through absorption-type mergers and a company split, culminating in changing its trade name to on the effective date. The primary rationale for the merger was to streamline operations within the and joint venture, accelerating synergies between LINE and to enhance overall competitiveness in the digital services market. By consolidating resources, the new entity aimed to foster faster product development, improve decision-making, and secure funding for sustainable growth amid intensifying competition from platforms like . established its at Kioi Tower in Chiyoda-ku, , centralizing leadership and operations in the Japanese capital. Under the merger terms, succeeded to all assets and liabilities of LINE Corporation, excluding certain overseas shares that were transferred to an intermediate , Z Intermediate Global Corporation, for managing subsidiaries. This included , business operations, and key subsidiaries integral to LINE's ecosystem. The process involved no reported layoffs, though it entailed role reassignments for over 1,000 staff across the integrating entities to align with the unified organizational structure. Following the merger, the LINE messaging app continued operations seamlessly under LY Corporation's branding, maintaining its user base and core functionalities. LY Corporation shifted strategic emphasis toward advancing AI technologies to position itself as a global leader in the field and exploring initiatives, exemplified by investments in blockchain-based services through its subsidiary LINE NEXT. In December 2024, LINE Pay Taiwan listed on the in a $1 billion IPO, underscoring the ongoing growth of LINE-branded .

Products and services

LINE messaging and communication platform

The LINE messaging and communication platform serves as the flagship product of LINE Corporation, enabling users to exchange free text messages, voice calls, and video calls across devices worldwide. Launched initially in response to the to facilitate reliable communication in disaster-stricken areas with potentially unstable networks, the app supports one-on-one chats, group conversations, and multimedia sharing, including images, videos, and files. These core features are designed for seamless interaction, with support for features like read receipts and message recall to enhance . Security has been a key evolution, with end-to-end encryption introduced by default in July 2016 through LINE's "Letter Sealing" , ensuring that only the sender and recipient can access message content during transit. This implementation applies to text, voice, and video communications in private chats and groups, addressing privacy concerns in an era of increasing data breaches. Additionally, the platform offers customizable stickers as a distinctive communication tool, allowing users to purchase and create expressive digital icons from a vast library; by 2018, over 2.2 million sticker sets had been created and sold via the LINE Creators Market, fostering a creative for . Technically, LINE is built on a robust, proprietary messaging infrastructure optimized for scalability and reliability, including custom servers handling high-volume traffic and integration with for real-time data processing. The app incorporates , a feed that allows users to post updates, photos, and videos visible to friends, blending messaging with light social networking to encourage ongoing engagement. In , where LINE dominates, approximately 85% of users log in daily, reflecting strong retention driven by its multifaceted utility in personal and professional communication. To further boost engagement, LINE introduced features like LINE VOOM in 2021, transforming the Timeline into a video-centric hub for short-form content discovery and sharing, similar to emerging social video platforms. Monetization within the core platform primarily stems from such as stickers and themes, which generated ¥28.7 billion (approximately $268 million) in revenue in alone, underscoring their role in driving profitability through microtransactions. These elements have solidified LINE's position as a versatile communication tool, particularly in , where it supports low-bandwidth scenarios via lightweight versions like LINE Lite.

Financial and payment services

LINE Corporation introduced LINE Pay in December 2014 as a QR code-based service designed to facilitate seamless transactions within its messaging ecosystem. The service enabled users to register credit or debit cards and make payments by scanning merchant QR codes at both online and physical stores, initially launching in before expanding regionally. By 2018, LINE Pay had grown significantly through partnerships, such as with QUICPay, allowing acceptance at approximately 720,000 merchants across , and set a goal to onboard one million direct code payment merchants that year. Key features of LINE Pay included peer-to-peer money transfers between users via the LINE app, accumulation of loyalty points known as LINE Points for rewards on purchases, and direct integration with banking services for account top-ups and transfers. These functionalities positioned LINE Pay as a comprehensive , supporting everyday transactions like bill payments and while leveraging the app's for ease of use. By 2020, LINE Pay had amassed a global user base of 50 million registered accounts, reflecting its integration with the broader LINE . Internationally, LINE Pay adapted to local markets with variants in and , launching in August 2015 for and July 2015 for , each supporting transactions in local currencies like the and . These versions incorporated region-specific features, such as partnerships with local banks for co-branded cards in , enhancing accessibility for cross-border remittances and . Regulatory progress included obtaining necessary licenses for electronic stored value services, enabling secure operations in these markets.

Entertainment, gaming, and content distribution

Line Corporation's entertainment and gaming initiatives were integral to its ecosystem, leveraging the LINE messaging platform to deliver casual mobile games and interactive content directly to users. The company established in 2017 as a dedicated to develop and publish titles, building on earlier efforts rooted in its origins as NHN Japan's gaming portal. These games emphasized , allowing seamless play and sharing within chats, which drove user engagement through features like LINE Coins for in-app purchases accessible via the messaging interface. A flagship example was LINE Rangers, a tower defense RPG launched on February 28, 2014, featuring LINE characters in strategic battles. The title quickly gained traction, achieving 10 million downloads worldwide by April 2014 and reaching 50 million by March 2018, with gameplay mechanics that encouraged collaborative raids among friends on the platform. In-app monetization, including character upgrades and boosts purchased through LINE's virtual currency, contributed to its sustained popularity in Asia. In content distribution, LINE expanded into music streaming with LINE MUSIC, launched in December 2014 through a joint venture with major labels Avex Digital and , granting access to extensive catalogs for ad-supported and premium playback. The service integrated playlists and sharing into the LINE app, amassing over 40 million users by 2021, primarily in Japan and . Complementing this, LINE Today served as a tailored for Southeast Asian markets like Thailand, Indonesia, and Taiwan, curating articles from local publishers and achieving market leadership with daily updates from over 600 providers. Line's distribution model relied on embedded and sponsored within the messaging , including promoted posts in chats and LINE Today feeds, to monetize user interactions without disrupting core communication. Partnerships with studios, such as collaborations for exclusive sets featuring properties like Pokémon, enhanced discovery by tying visual to daily conversations. Gaming and content segments showed robust growth, with the broader content business—including games, music, and news—generating 40.1 billion (approximately $364 million USD) in revenue for 2017, down 5.0% year-over-year but underscoring the scale of LINE's ecosystem amid expanding user bases in . This revenue stream highlighted the impact of integrated , where monthly for related services like LINE VOOM exceeded 68 million, facilitating high-volume content consumption.

Merchandising and intellectual property

LINE Corporation's merchandising efforts center on the brand, which originated from popular stickers in the LINE messaging and evolved into a standalone character business in January 2015. The brand features endearing characters such as , the anthropomorphic bear, and Cony, the rabbit, which have become central to physical product lines including plush toys, apparel, and accessories. By leveraging these characters, LINE expanded into offline retail to capitalize on fan engagement beyond digital interactions. Retail expansion played a key role in commercializing the IP, with LINE Friends stores opening in high-traffic locations across and beyond. As of October 2018, the brand operated 113 stores in 11 global markets, including flagship outlets in Tokyo's district, which serves as a major hub for character-themed merchandise and pop-up experiences. These stores offer immersive shopping environments with exclusive items, contributing to revenue growth; for instance, U.S. sales for LINE Friends surged 338% in 2018 compared to the previous year, driven by pop-up events in . Collaborations with brands like have further boosted visibility, such as the 2018 UT graphic collection featuring LINE Friends characters on casual apparel. LINE's intellectual property strategy emphasizes robust protection and broad licensing to maximize . The company has trademarked key elements of its character portfolio, including the "" mark registered in multiple jurisdictions since 2015, enabling global enforcement. With over 5,000 licensed products by 2018, the IP extends to diverse categories like toys from partners such as and apparel lines, alongside themed cafes in markets like and that blend retail with dining experiences. This licensing model generated significant revenue for the LINE Friends segment, reaching approximately 18.7 billion in 2019, accounting for about 9% of LINE Corporation's total consolidated revenue of 207.5 billion that year.

Corporate affairs

Ownership evolution

Line Corporation was established in 2013 as a wholly owned of , which had previously operated the LINE messaging service through its Japanese affiliate NHN Japan since the service's launch in 2011. Following its on the and in July 2016, Naver's ownership in Line was diluted to approximately 80.8%. By 2019, Naver's stake had decreased to 73% amid secondary share sales and market activities. In November 2019, and announced plans for a business integration between Line and Corporation (the parent of , majority-owned by SoftBank), forming a entity called A Holdings Corporation with equal 50% ownership by Naver and SoftBank Corp. (a SoftBank Group subsidiary). A Holdings was structured to hold a controlling 65% stake in the combined operations under Z Holdings upon completion of the integration. To facilitate the merger, SoftBank Corp. and a Naver launched a in August 2020 for all outstanding Line shares not already held by Naver, acquiring the remaining minority interests and delisting Line from public s in December 2020. This resulted in Line becoming a wholly owned of Z Holdings. The integration culminated in early 2021, when Line transferred its business to a demerger preparatory company on February 28, 2021, and renamed itself A Holdings to serve as the parent. The preparatory company, which became the new Line , was integrated into Z Holdings through a share effective , 2021. By 2022, the Line business operated as a 100% of Z Holdings, fully under the oversight of the Naver-SoftBank structure. On October 1, 2023, Line merged with Z Holdings and Yahoo Japan to form LY , concluding its independent operations.

Leadership and key executives

Line Corporation's leadership during its independent era was characterized by executives with deep ties to its parent company, , who guided the firm through product launches, public listing, and international growth. Shin Jung-ho, originating from Naver Korea where he assisted in expanding operations to , played a pivotal role in establishing Line Corporation and launching the LINE messaging app in 2011. From 2013 to 2015, he oversaw key developments including the company's rebranding from NHN Japan to LINE Corporation, solidifying its focus on mobile communication services. Takeshi Idezawa assumed the role of CEO and President in March 2015, succeeding Akira Morikawa, and led the company until the 2021 merger. Idezawa, previously , drove the initial public offering on the in July 2016 and spearheaded global expansion, growing LINE's user base beyond . From April 2019 to 2021, he served as co-CEO alongside Shin Jung-ho (also known as Jungho Shin), with the duo emphasizing service innovation and integration until the merger negotiations. Other key executives included Jun Masuda, who became Chief Strategy and Marketing Officer in 2014 and a in 2015, driving technological innovations such as platform enhancements and content strategies. In Joon Hwang served as from March 2015, overseeing financial strategy including preparations for the IPO and in payment services. By 2018, Line Corporation's comprised seven members, predominantly influenced by Naver's majority ownership, which ensured strategic alignment until the onset of merger discussions in 2019.

Organizational structure and workforce

Line Corporation operated under an in-house company system introduced in February 2019, which divided its operations into semi-autonomous units to streamline decision-making and resource allocation. This structure included eight in-house companies, each led by a dedicated CEO with authority over budgeting, hiring, and strategy: Digital Contents (focusing on gaming and manga), Marketing Solutions (handling advertising and B2B services), Entertainment (covering music and live streaming), AI (encompassing Clova AI and healthcare initiatives), Portal (managing news and gifting services), O2O (overseeing shopping and travel), Fintech (developing payments and blockchain), and Financial (preparing for banking and securities). Engineering efforts, central to product development, were distributed across these units, supporting the core messaging platform and ancillary services. By 2020, the company maintained approximately 18 subsidiaries worldwide, including LINE Plus Corporation in South Korea for global infrastructure, LINE Taiwan Limited, LINE Company (Thailand) Limited, and LINE Financial Corporation for payment operations. The workforce peaked at 14,647 employees in 2020, with a significant concentration in comprising the majority of staff to support domestic operations. Approximately 37% of these employees were women (5,442 out of 14,647), reflecting ongoing initiatives aimed at gender equity in a tech-driven environment. The company emphasized inclusive hiring practices, particularly in technical roles, though specific breakdowns for engineering positions were not publicly detailed at the time. Line Corporation's headquarters was located in Tokyo's Shinjuku district, with key international offices in (hosting LINE Plus for and global development), (focusing on Taiwan market operations), and (supporting Southeast Asian expansion). These sites facilitated regional autonomy while aligning with central oversight from . Company culture promoted agility in development processes, with teams adopting iterative methodologies to accelerate feature releases for the LINE platform. Post-2018, Line introduced flexible policies through its LINE SMART WORK system, allowing employees to work from home up to once a month even before the , fostering work-life balance and collaboration across global teams. This approach was overseen by leadership to ensure alignment with strategic goals.

Financial performance

Revenue sources and growth metrics

Line Corporation's revenue primarily derived from its core business segments, including advertising, communications (such as stickers and themes), content (including games), and strategic areas like merchandising and fintech. In 2019, advertising accounted for 54.9% of total revenue at ¥124.8 billion, while communications contributed 12.4% at ¥28.3 billion, together representing about two-thirds of the company's income. Games, bundled under content, generated 16.9% or ¥38.3 billion, and merchandising (primarily through LINE Friends) added 8.4% or ¥19.2 billion, with fintech services forming part of the remaining strategic business revenue at approximately 5.1% or ¥11.6 billion. Overall revenue for the year totaled ¥227.5 billion (about $2.06 billion USD). The company demonstrated robust growth, achieving a 9.8% year-over-year increase to ¥227.5 billion in from ¥207.2 billion in , driven largely by expansion. This momentum continued into 2021, with revenue surging 56% year-over-year to $2.36 billion despite the ongoing , rebounding from a 26% decline in to $1.51 billion. Monthly (MAU) supported this trajectory, growing from approximately 100 million in 2013 to over 200 million by , reflecting strong adoption in key Asian markets. Key performance metrics highlighted regional disparities, with annual (ARPU) reaching about $10 globally in line with the 2020 MAU base, though —accounting for 73.2% of revenue—yielded significantly higher ARPU compared to approximately $3 in other Asian regions due to premium ad and services uptake. User acquisition efforts entailed annual spending of around $100 million, focusing on marketing in high-growth markets like and . Over time, Line diversified its revenue streams, reducing reliance on advertising and communications from roughly 78% in 2015 (37% advertising and 41% stickers/themes) to a more balanced portfolio by 2020, as and gaming segments expanded amid the merger with . This shift emphasized integration of like LINE Pay and broader content distribution.

Profitability, investments, and acquisitions

Line Corporation achieved profitability in 2016 with of approximately $66 million, followed by $75 million in 2017, but recorded losses of $52 million in 2018 and $470 million in 2019, driven by expansion costs and operational challenges in core messaging and diversified services. By 2020, the company reported a net loss of $411 million amid the , which led to reduced marketing expenditures and disruptions in offline-related businesses. In terms of investments, Line Corporation allocated resources to between 2018 and 2020, including the establishment of LINE Blockchain Lab in 2018 for development and initiatives to enhance platform security and personalization. Complementing these efforts, the company's arm, LINE Ventures, funded startups in , , and digital services to bolster ecosystem partnerships. Line Corporation pursued an acquisition strategy to strengthen its content, , and capabilities. Notable transactions included the acquisition of a 51% stake in NextFloor Corporation in 2017, which integrated popular titles into LINE's offerings. These moves expanded market reach and mitigated competitive pressures in Asia's tech landscape.

Controversies and challenges

Data security breaches

In March 2021, employees of a Chinese subsidiary of Naver Corporation conducted over 520 unauthorized accesses to Line Corporation's systems using shared administrative credentials, raising concerns over foreign access to Japanese user data stored on domestic servers. This incident prompted Line to block the subsidiary's access and enhance internal controls. Separately, in July 2021, hackers compromised Line accounts of over 100 Taiwanese government officials, politicians, and military personnel by disabling the app's end-to-end encryption feature (Letter Sealing), suspected to involve Pegasus spyware; this allowed access to private conversations but was not linked to Naver systems. The Taiwanese government investigated the breach, and Line implemented safeguards including account monitoring and encryption reinforcements. A subsequent major breach occurred in October 2023, when on a subcontractor's enabled unauthorized entry into shared systems via Naver Cloud Corporation, Line's affiliate. This led to the leakage of about 440,000 personal records, including email addresses, phone numbers, and names of roughly 303,000 Line users (with 130,000 Japanese), 86,000 business partners, and 130,000 employees or personnel; however, no user chat messages or financial information were compromised. , Line's parent, identified the issue on October 17, 2023, blocked external access by October 27, and began notifying affected individuals starting November 27. In response to both 2021 incidents and the 2023 breach, enhanced its data protection protocols, including network security improvements, separation of authentication systems from Cloud, and regular security audits to bolster and access controls. The company cooperated closely with the Japanese Ministry of Internal Affairs and Communications for investigations and received administrative guidance to further isolate Japanese user data from foreign systems. By the end of 2024, LY completed disentanglement of technical ties with Naver Cloud, migrating key systems domestically as required by March and April 2024 government directives. In May 2024, Japan's Personal Information Protection Commission issued a corrective recommendation following review of the 2023 breach, mandating further privacy enhancements. The March 2021 incident prompted 's national government and numerous local bodies to temporarily suspend Line usage for official communications, citing security risks. The July 2021 Taiwanese heightened regional concerns over app for sensitive communications. The 2023 event similarly eroded user confidence, with surveys indicating a notable decline in trust among Japanese users, though no widespread service outages were reported. These lapses also fueled brief geopolitical strains between and over data handling practices.

Geopolitical and regulatory issues

Line Corporation has faced significant geopolitical tensions stemming from its partial ownership by South Korea's Naver Corporation, particularly in the context of Japan-South Korea relations. Following the March 2021 incident where employees of Naver's Chinese subsidiary accessed user data on Japanese servers, Japanese regulators expressed concerns over foreign influence on sensitive data, leading to demands for reduced Naver involvement to safeguard national interests. This friction intensified after the October 2023 data breach linked to Naver Cloud, prompting the Japanese Ministry of Internal Affairs and Communications in March 2024 to issue administrative guidance urging Line's operator to review and limit ties with Naver, citing national security risks under Japan's economic security laws. These actions were viewed by South Korean officials as discriminatory, escalating diplomatic strains over data sovereignty and foreign control of critical digital infrastructure in 2024, including accusations of economic coercion. Regulatory scrutiny of Line has included antitrust investigations related to its 2019 merger with . Japan's Fair Trade Commission conducted a detailed review of the proposed integration between (Yahoo Japan's parent) and Line Corporation, focusing on potential market dominance in digital services, and approved the deal in August after requiring commitments to maintain . Additionally, in response to concerns from the 2021 incidents, Japan's Personal Information Protection Commission recommended in 2021 that Line transfer user to domestic servers to enhance protection and reduce reliance on overseas infrastructure; by mid-2021, Line began this for key like images and medical records, with enforcement continuing into 2022 to ensure compliance with privacy guidelines. Ownership debates have centered on efforts to diminish perceived Korean control amid these security issues. In May 2024, SoftBank, Line's Japanese co-owner, engaged in negotiations to acquire a portion of 's stake in their A Holdings, which controls (Line's parent), aiming to boost SoftBank's influence; however, these talks stalled by July 2024 with no acquisition completed. Instead, in August 2024, conducted a share buyback reducing A Holdings' stake from 64.5% to approximately 59%, slightly diluting both owners' holdings without altering control. As of November 2025, ownership in A Holdings remains equally split at 50% between SoftBank and , with no further major changes reported. As an outcome, the formation of in October 2023 through the merger of Line, , and established a structure under A Holdings with equal 50% stakes for SoftBank and , incorporating balanced governance mechanisms such as independent oversight committees to mitigate geopolitical risks and ensure equitable decision-making on security and operations.

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