LY Corporation finalizes BEENOS acquisition, cancels shares

LY Corporation finalized its acquisition of BEENOS Inc. on September 1, 2025, following a tender offer that made BEENOS a consolidated subsidiary on May 14, 2025. An extraordinary shareholders' meeting of BEENOS approved a 2,800,000-to-1 share consolidation, which took effect on September 1, 2025, officially making BEENOS a wholly owned subsidiary. This move is expected to accelerate business synergies, particularly in cross-border e-commerce through platforms like Buyee. BEENOS Inc. specializes in cross-border e-commerce and entertainment, with 3,178 million yen in stated capital as of June 30, 2025.

In a related development, LY Corporation announced on September 3, 2025, the completion of a treasury share cancellation. The company cancelled 63,400,000 common shares, representing 0.91% of its total issued shares as of July 31, 2025. After the cancellation, the total number of issued shares stands at 6,880,930,356.

The company anticipates a minimal impact on its consolidated business performance from the transition of BEENOS to a wholly owned subsidiary.