LN LINE Corp (ADR)

LINE Corporation Reports Other Operating Income (Gains on Transfer of Business)

TOKYO--(BUSINESS WIRE)--

LINE Corporation (NYSE:LN) (TOKYO:3938) (Headquarters: Shinjuku-ku, Tokyo, Japan; Representative Director and CEO: Takeshi Idezawa; hereinafter the “Company”) announces it has determined the financial impact from the business reorganization announced on February 24, 2017 “Notice Regarding Reorganization of Camera App Business.”

1. Incurred Other Operating Income
(1) Occurrence of Event
May 1, 2017 (Effective date of the absorption-type company split)
 
(2) Event Details
The Company incurred gains from the transfer of the camera app business of LINE Plus Corporation (Headquarters: Gyeonggi-do, Korea; Representative Director: Joongho Shin), a consolidated subsidiary of the Company, which was acquired through an absorption-type split by Snow Corporation (Headquarters: Gyeonggi-do, Korea; Representative Director: Chang Wook Kim), an equity-method affiliate in which the Company held 25% voting rights ownership.
 
(3) Impact of Event on Results

10,444 million yen in gains on transfer of a business is reported as “Other Operating Income” in the Q2 2017 consolidated financial results.

This is an English translation of the original Japanese-language document. Should there be any inconsistency between the translation and the original Japanese text, the latter shall prevail.

EN
26/07/2017

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