Line acquisitions, on the record

Word for word“We subsequently expanded our business to portal services and acquired livedoor Co., Ltd., a Japanese internet portal company, in May 2010.” 20-F for 2017

Word for word“In July 2017, LINE Games Corporation acquired a 51.0% interest in NextFloor Corporation, a mobile game development company in Korea.” 20-F for 2017

Word for word“In 2017, we recorded net cash outflow of ¥5,215 million related to our acquisition of a 100.0% interest in FIVE Inc., which specializes in operating a video advertising platform for mobile phones, as well as net cash outflow of ¥2,005 million related to our acquisition of a 51.0% interest in NextFloor Corporation, a game company in Korea.” 20-F for 2017

Word for word“In May 2017, we transferred our camera application business, including B612 and LINE Camera, which was operated by our wholly-owned subsidiary LINE Plus Corporation, to Snow Corporation to pursue further synergies, as a result of which our interest in Snow Corporation increased to 48.6%.” 20-F for 2017

Word for word“For example, we acquired assets of MixRadio, a mobile music streaming service, from Microsoft in March 2015, but after careful assessment of the overall performance of MixRadio, the financial challenges posed by the music streaming market, changing market conditions, an increase in the cost of maintaining the business and a shift in our overall priorities, our board of directors approved the liquidation of our MixRadio business that became effective in March 2016.” 20-F for 2018

Word for word“In September 2014, as a part of our continued focus on the expansion of the LINE platform, our board of directors decided to dispose of our data management business, which consisted of DataHotel Co., Ltd., a wholly-owned subsidiary, and the data management business was subsequently sold to a subsidiary of NHN Entertainment Corporation, a Korean online game portal company that was spun off from NAVER Corporation in August 2013.” 20-F for 2018

Word for word“In October 2016, we acquired a 21.9% interest in Yume no Machi Souzou Iinkai Co., Ltd., operator of a leading nationwide delivery portal site Demae-Can that collaborates with us on our operation of LINE Delima food delivery service.” 20-F for 2018

Word for word“In October 2016, we acquired a 25.0% interest in Snow Corporation, a subsidiary of NAVER Corporation and developer and operator of the selfie app SNOW.” 20-F for 2018

Word for word“In May 2017, we transferred our camera application business, including B612 and LINE Camera, which was operated by our wholly-owned subsidiary LINE Plus Corporation, to Snow Corporation to pursue further synergies.” 20-F for 2018

Word for word“In January 2018, we entered into a capital alliance partnership with FOLIO, pursuant to which we acquired a 41.4% interest in FOLIO on a fully-diluted basis, assuming that all stock options provided by FOLIO to its employees have been vested and exercised.” 20-F for 2018

Word for word“In August 2018, we entered into an alliance with Venture Republic, the operator of a leading online travel metasearch and media outlet in Japan, pursuant to which we acquired a 34.0% ownership interest in Venture Republic.” 20-F for 2018

Word for word“We are in the process of completing the acquisition of a 20.0% ownership interest in PT Bank KEB Hana Indonesia (“KEB Hana Indonesia”) through LINE Financial Asia Corporation Limited (“LINE Financial Asia”), a wholly-owned subsidiary of LINE Financial.” 20-F for 2018

Word for word“Other Operating Income Our other operating income increased by 103.9%, or ¥6,119 million, from ¥5,892 million in 2016 to ¥12,011 million in 2017, primarily due to the recognition of a ¥10,444 million gain on divestiture of business and subsidiaries relating to the transfer of our camera application business, including B612 and LINE Camera, which was operated by our wholly-owned subsidiary LINE Plus Corporation, to Snow Corporation in May 2017, which was offset in part by our recognition of a gain of ¥2,461 million from our sale of land in Fukuoka to Kyushu Railway Company in June 2016, compared to no such gain in 2017.” 20-F for 2018

Word for word“On March 26, 2020, our board of directors approved our entering into a capital alliance and partnership agreement, pursuant to which we will acquire 20,548,000 new shares of Demae-can common stock for 15,000 million yen through a third-party allotment.” 20-F for 2019