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The moves come as Line seeks alternative revenue streams to offset stagnating user numbers for its app, expanding into areas such as payments, stock broking, insurance and cryptocurrencies.
Saudi Arabia is the largest investor in SoftBank’s $93 billion Vision Fund, giving Son firepower to make big bets in late-stage startups.
It is the latest high-profile hire by SoftBank when it faces criticism for its links to S Arabia, the largest investor in its Vision Fund.
The company last year raised more than $93 billion for its Vision Fund, of which $45 billion came from Saudi Arabia.
It may also be considering an investment of around 20 percent in Don Quijote.
SoftBank Vision Fund’s largest investments to date are in companies including Uber and WeWork.
The telecoms and technology firm’s profit was also bolstered by the sale of the majority of chip designer ARM Holding’s Chinese operations to a local consortium.
SoftBank said the service will be launched in autumn through a joint venture with Yahoo Japan Corp.
The move comes amid concerns over Takeda’s finances due to its $62 billion deal to buy London-listed Shire Plc.
The overseas expansion is the latest by a Japanese media company. In 2015, Japanese media group Nikkei agreed to buy Britain’s Financial Times for $1.3 billion.