Press Releases 2020
Integration of Financial Service Brands
in the Z Holdings Group and Changes
in the Trade Names of Consolidated Subsidiaries
July 31, 2020
SoftBank Corp.
Z Holdings Corporation
Z Holdings Corporation (“ZHD”), Z Financial Corporation (“ZF”) and SoftBank Corp. (“SB”) have decided to integrate the names of the six financial business firms under their arms, and the names of their services to “PayPay” brand. This will take effect sequentially from the fall of 2020. Regarding the change of company names, each of the six financial business firms have resolved at their board meetings to change their trade names on the condition that the “Partial Amendment to the Articles of Incorporation” will be approved at their respective meetings of the shareholders. Details are as follows.
1. Background to changes in trade names
PayPay Corporation, funded by Yahoo Japan Corporation (“Yahoo! JAPAN”) which is one of the core firms of ZHD, provides a smartphone payment service named “PayPay”. The service is rapidly growing to be used by many users, and its cumulative users exceeded 30 million (as of end of June 2020).
Since last year, Yahoo! JAPAN has bolstered its ties with “PayPay” by introducing “PayPay” payment in its online services, providing benefits such as “PayPay Bonus Lite”, launching e-commerce services named “PayPay Flea Market” and “PayPay Mall”, etc. As a result, Yahoo! JAPAN has captured “PayPay” users that are rapidly increasing, and has expedited the growth of its commerce business.
In hopes that a familiar name will encourage users to use our services with affection, we have decided to integrate the names of the companies and services to the “PayPay” brand to strengthen the ties with “PayPay” in financial services such as banking, credit card, and insurance, provided by the financial firms under the arms of ZHD and SB, and to grow our finance business.
2．Changes in the names of the financial business firms and services
From fall 2020, we plan to sequentially change the names of the six financial business firms under the arms of ZHD and SB, and the names of the services provided by these companies to names with the “PayPay” brand or to begin providing new services with the “PayPay” brand. The changes in the names of the companies are subject to the approval in the shareholders meetings of the respective companies, and approval, etc. from government agencies, if needed.
| Current name | New name | ||
|---|---|---|---|
| Name of company | Name of service | Name of company | Name of service |
| YJ Card Corporation | Yahoo! JAPAN Card | PayPay Card Corporation | PayPay Card Yahoo! JAPAN Card (to be continued) |
| The Japan Net Bank, Limited | The Japan Net Bank | PayPay Bank Corporation | PayPay Bank |
| One Tap BUY Co., Ltd. | One Tap BUY | PayPay Securities Corporation | PayPay Securities |
| Y's Insurance Inc. | Yahoo! JAPAN Insurance | PayPay Insurance Service Corporation | PayPay Insurance |
| YJFX, Inc. | YJFX! | PayPay FX Corporation | PayPay FX |
| Astmax Asset Management, Inc. | Yjam | PayPay Asset Management Corporation | PayPay Investment Trust |
3. Future financial business
The group companies of ZHD provide users with numerous platforms in search, e-commerce, payment, travel and others, which promote user actions such as “search”, “purchase”, “pay” and “reserve”. ZHD aims to enhance its “Scenario finance initiative”, whereby it proposes the financial product that best fits the needs when users initiate actions in the platforms provided by ZHD. In January 2020, ZHD began providing “YAHUOKU! Warranty” which allows users to subscribe to an insurance in one stop when they purchase items in YAHUOKU!
The implementation of the “Scenario finance initiative” will increase users' convenience in their purchase of financial products and when applying to the products. In the ZHD Group, this will strengthen its sales of financial products as well as increase the appeals of its e-commerce platforms, etc. that provide these services.
In addition, by strengthening the ties with “PayPay” we plan to introduce ZHD Group's financial services such as loan and insurance in PayPay app. This will help realize PayPay's “Super app initiative”, which aspires to make the users' lives richer and more convenient.
Please note that we plan to conduct various promotional measures together with the integration of service brands from this fall, including the promotional measure for PayPay Card.
Throughout the entire group, ZHD and ZF will aspire to deliver user-friendly and convenient financial services to our users, and to largely grow our financial business.
4. Consolidated subsidiaries of ZHD
(1) Change in the trade name of YJ Card Corporation
① Outline of consolidated subsidiary
| Present trade name | YJ Card Corporation |
|---|---|
| Location | 3-4-2, Hakata-ekimae, Hakata-ku, Fukuoka-shi, Fukuoka |
| Name and title of representative | Satoshi Ando, President and Representative Director |
| Description of business | Credit card, card loan, credit guarantee business |
| Capital | JPY 100 million (As of March 31, 2020) |
| Parent company and shareholding ratio | Yahoo Japan Corporation 100% |
② New trade name
PayPay Card Corporation
③ Conditions to the change
Approval of the “Partial Amendment to the Articles of Incorporation” at YJ Card Corporation's meeting of the shareholders.
④ Date of the board of directors resolution in regards to the change in the trade name
July 31, 2020; the date of change in trade name will be notified when determined.
(2) Change in the trade name of The Japan Net Bank, Limited
① Outline of consolidated subsidiary
| Present trade name | The Japan Net Bank, Limited |
|---|---|
| Location | 2-1-1, Nishi-shinjuku, Shinjuku-ku, Tokyo |
| Name and title of representative | Tomohito Takusari, President and Representative Director |
| Description of business | Banking business |
| Capital | JPY 37,250 million (As of March 31, 2020) |
| Parent company and shareholding ratio | Z Financial Corporation 46.6% |
② New trade name
PayPay Bank Corporation
③ Conditions to the change
Approval of the “Partial Amendment to the Articles of Incorporation” at The Japan Net Bank, Limited's meeting of the shareholders, and approval, etc. from government agencies.
④ Date of the board of directors resolution in regards to the change in the trade name
July 31, 2020; the date of change in trade name will be notified when determined.
(3) Change in the trade name of Y's Insurance Inc.
① Outline of consolidated subsidiary
| Present trade name | Y's Insurance Inc. |
|---|---|
| Location | 1-3, Kioicho, Chiyoda-ku, Tokyo |
| Name and title of representative | Tatsuya Yamamoto, President and CEO |
| Description of business | Life/Non-life insurance agency business |
| Capital | JPY 30 million (As of March 31, 2020) |
| Parent company and shareholding ratio | Yahoo Japan Corporation 60% |
② New trade name
PayPay Insurance Service Corporation
③ Conditions to the change
Approval of the “Partial Amendment to the Articles of Incorporation” at Y's Insurance Inc.'s meeting of the shareholders.
④ Date of the board of directors resolution in regards to the change in the trade name
July 30, 2020
(4) Change in the trade name of YJFX, Inc.
① Outline of consolidated subsidiary
| Present trade name | YJFX, Inc. |
|---|---|
| Location | 1-3, Kioicho, Chiyoda-ku, Tokyo |
| Name and title of representative | Yoshifumi Matsumoto, President CEO |
| Description of business | Financial instruments business |
| Capital | JPY 490 million (As of March 31, 2020) |
| Parent company and shareholding ratio | Yahoo Japan Corporation 100% |
② New trade name
PayPay FX Corporation
③ Conditions to the change
Approval of the “Partial Amendment to the Articles of Incorporation” at YJFX, Inc.'s meeting of the shareholders.
④ Date of the board of directors resolution in regards to the change in the trade name
July 29, 2020
(5) Change in the trade name of Astmax Asset Management, Inc.
① Outline of consolidated subsidiary
| Present trade name | Astmax Asset Management, Inc. |
|---|---|
| Location | 1-1, Kanda Nishiki-cho, Chiyoda-ku, Tokyo |
| Name and title of representative | Daigo Akemaru, President and Representative Director |
| Description of business | Financial instruments business |
| Capital | JPY 95 million (As of March 31, 2020) |
| Parent company and shareholding ratio | Yahoo Japan Corporation 50.1% |
② New trade name
PayPay Asset Management Corporation
③ Condition to the change
Approval of the “Partial Amendment to the Articles of Incorporation” at Astmax Asset Management, Inc.'s meeting of the shareholders.
④ Date of the board of directors resolution in regards to the change in the trade name
July 31, 2020; the trade name is scheduled to be changed on March 8, 2021.
5. Consolidated subsidiary of SB
(1) Change in the trade name of One Tap BUY Co., Ltd.
① Outline of consolidated subsidiary
| Present trade name | One Tap BUY Co., Ltd. |
|---|---|
| Location | 6-10-1, Roppongi, Minato-ku, Tokyo |
| Name and title of representative | Masaaki Uchiyama, CEO Representative Director, President |
| Description of business | Securities business |
| Capital | JPY 5,175 million (As of July 31, 2020) |
| Parent company and shareholding ratio | SoftBank Corp. 66.1% |
② New trade name
PayPay Securities Corporation
③ Conditions to the change
Approval of the “Partial Amendment to the Articles of Incorporation” at One Tap BUY Co., Ltd.'s meeting of the shareholders.
④ Date of the board of directors resolution in regards to the change in the trade name
July 29, 2020