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Japanese LINE operator asks South Korean parent Naver to reconsider ownership, LY tells regulator

By Sachiko Sakamaki ( April 1, 2024, 09:59 GMT | Insight) -- In response to an unusual request from the telecom regulator to reconsider the South Korean parent company’s influence over the management of Japan’s most popular messaging app LINE, LY Corporation told the regulator today that it’s asking Naver Corporation and SoftBank Corporation to review their capital ownership. In its summary report to the Ministry of Internal Affairs and Communications, the Japanese tech company included the ownership review in its measures to prevent a recurrence of data breaches. In response to an unusual request from the telecom regulator to reconsider the South Korean parent company’s influence over the management of Japan’s most popular messaging app LINE, LY Corporation told the regulator today that it’s asking Naver Corporation and SoftBank Corporation to review their capital ownership. In its summary report to the Ministry of Internal Affairs and Communications, or MIC, the Japanese tech company included the ownership review in its measures to prevent a recurrence of data breaches....

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