Parent of Yahoo Japan, Line enjoys 15% revenue growth

Z Holdings Corp., the parent of Yahoo Japan Corp. and messaging app giant Line Corp., has reported brisk revenue growth in fiscal 2020 thanks to stay-home demand amid the novel coronavirus crisis. Consolidated revenue for the year through last month rose 14.5% from the previous year to ¥1.2 trillion, boosted by strong online shopping demand, Z Holdings said Wednesday. The company made Line a wholly owned subsidiary for business integration March 1. The move pushed up the revenue by ¥24.9 billion. Operating profit increased 6.5% to ¥162 billion. The value of goods and services sold via the Z Holdings group's e-commerce platforms shot up 24.4% to ¥3.22 trillion.