Yomiuri: PayPay Begins Preparations for IPO

Dow Jones

May 08, 2025

By Takuya Ono

Yomiuri Shimbun Staff Writer

LY Corp. announced at a financial results briefing on Wednesday that its subsidiary PayPay Corp., which is the largest mobile payment service in Japan, has begun preparations for an initial public offering $(IPO.UK)$. Although the timing has not yet been determined, the company is considering a listing on the U.S. stock market.

LY Corp. President Takeshi Idezawa said the IPO is aimed at "accelerating its (PayPay's) transformation from a payment app to a comprehensive financial platform." He did not explicitly mention the possibility of listing the company on the domestic stock market.

LY Corp. has been restructuring its financial business, including transferring of shares of PayPay Bank Corp., a prior subsidiary, to PayPay.

This article is from The Yomiuri Shimbun. Dow Jones Newswires and The Wall Street Journal were not involved in the creation of this content.

(END) Dow Jones Newswires

May 08, 2025 01:27 ET (05:27 GMT)

Copyright (c) 2025 The Yomiuri Shimbun

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