Washington, D.C. 20549

Form 6-K




For the month of July 2020

Commission File Number: 001-37821

LINE Corporation

(Translation of registrant’s name into English)

1-6 Shinjuku 4-chome

Shinjuku-ku, Tokyo 150-8510, Japan

(Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F           X                Form 40-F             

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):                 

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):                 


Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.



LINE Corporation


July 30, 2020


By: /s/ In Joon Hwang

  Name: In Joon Hwang
  Title: Director and Chief Financial Officer

July 30, 2020

Press Release



Company Name: LINE Corporation

Representative: Takeshi Idezawa, President and Representative Director

   Code Number: 3938, First Section, Tokyo Stock Exchange
   Inquiries: Corporate Development / Investor Relations
   TEL: 03-4316-2050

Notice Regarding Merger of LINE Corporation’s Consolidated Subsidiary and Expected

Recording of Gains Resulting from its Transfer

LINE Man Corporation Pte. Ltd. (“LINE Man”), a consolidated subsidiary of LINE Corporation (“LINE”), has resolved at its board of directors meeting held on July 30, 2020 to execute an absorption-type merger and third-party allotment of shares with Wongnai Media Pte. Ltd. (“Wongnai”), a company headquartered in Singapore established by the Thai restaurant search and review platform provider, Wongnai Media Company Limited. As a result, LINE expects to write up the merger and transfer in its consolidated financial statement for the third quarter period of the fiscal year ending December 2020 after remeasuring the fair value of its investment in LINE Man.



Purpose of restructuring

LINE Man offers a 24-hour food delivery service on a mobile app in Thailand. By executing an absorption-type merger with Wongnai, LINE Man aims to achieve new growth opportunities for its food delivery business. Furthermore, LINE Man will bolster its service with a capital injection by subscribing to Wongnai’s third-party allotment of new shares.



Overview of restructuring





Resolution date of Board of Directors


July 30, 2020

Execution date of absorption-type merger


Early August 2020 (tentative)




Type of restructuring

In this absorption-type merger, LINE Man will be the surviving entity and Wongnai will be dissolved.



Outline of the parties to be restructured (as of July 30, 2020)


(1) Name    LINE Man Corporation Pte. Ltd. (surviving entity)    Wongnai Media Pte. Ltd. (dissolving entity)
(2) Address   

6 Eu Tong Sen Street

#11-10P, The Central,

Singapore 059817


10 Collyer Quay

#10-01, Ocean Financial Centre,

Singapore 049315

(3) Titles and names of representatives    Eunjung Lee, Director   

Tan Seng Kiat, Director

Yod Chinsupakul, Director

(4) Lines of business    Operator of O2O platform in Thailand offering services including online food delivery, taxi hailing, and a courier service    Operator of restaurant review platform in Thailand
(5) Capital   

USD 38,000,000

As a result of the absorption-type merger and third-party allotment of shares, LINE Man’s capital is expected to increase by USD 110,000,000 for a total of USD 148,000,000.

   THB 428,574,291.90
(6) Founded    September 5, 2019    June 18, 2020
(7) Number of outstanding shares    38,000,000    15,200,001
(8) Fiscal year closed    December 31    December 31
(9) Main shareholders and percentage of shareholdings    LINE Southeast Asia Corp. Pte. Ltd. 100%    Founders 49.18%



After the merger

The surviving entity, LINE Man, expects to welcome a new representative director in conjunction with the merger. LINE Man’s trade name and head office location will remain the same.




Future outlook

The third-party allotment of shares will make LINE Man an equity-method affiliate of LINE (shareholding ratio: 45.6%). LINE will record the loss of control of its consolidated subsidiary as a profit which value is currently being calculated. The impact of the merger and transfer of LINE Man on LINE’s financial results will be disclosed as soon as the resulting profit is determined.