TOKYO (Reuters) – SoftBank’s internet subsidiary Z Holdings on Monday outlined plans to invest 500 billion yen ($4.7 billion) in technology over five years with a focus on artificial intelligence.
The announcement follows the completion of the merger of its internet business Yahoo Japan with chat app operator Line creating a $30 billion internet heavyweight.
Z Holdings is targeting sales of 2 trillion yen and operating income of 225 billion yen by 2023, the firm said in a statement.
($1 = 106.5600 yen)
(Reporting by Sam Nussey; Editing by Christopher Cushing)
