Z Holdings, a Japanese internet company originally formed as a joint venture between the American internet company Yahoo! and SoftBank, agreed to merge with Line, a Tokyo-based subsidiary of the South Korean internet search Naver. The combined firm would be valued at approximately $30bn. “In the Internet market, overseas companies, especially those based in the United States and China, are overwhelmingly dominant, and even when comparing the size of operations, there is currently a big difference between such overseas companies and those in other Asian countries, other than China,” SoftBank.