Yahoo Japan to get trademark rights for Yahoo brand for 178 bil. yen

© Kyodo News

Yahoo Japan Corp. said Monday it will acquire trademark rights related to the use of the Yahoo brand in Japan for 178.5 billion yen ($1.6 billion) from a subsidiary of U.S. Verizon Media to enhance its corporate value.

The deal will enable the internet and e-commerce giant to use the Yahoo brand and licensed technology in Japan without paying royalties, while also giving its operator Z Holdings Corp. "greater flexibility" in using the brand and in the development of its businesses.

A new license agreement will take effect after U.S. investment firm Apollo Global Management Inc. completes its acquisition of Verizon Media expected in the second half of 2021, Yahoo Japan and Z Holdings said in their press releases.

Verizon announced in May it will be acquired by Apollo.

Yahoo Japan was co-founded by Yahoo Inc. and SoftBank Corp., the current SoftBank Group Corp., in 1996 and has paid parts of its revenues to the U.S. firm.

Z Holdings, a SoftBank Group subsidiary, merged in March with messaging app provider Line Corp. to expand their online services globally as they aim to better compete with U.S. and Chinese tech giants.