Announcement Regarding the Commencement of Roadshow for the Initial Public Offering of American Depositary Shares in the United States by PayPay Corporation

Overview of the IPO

PayPay Corporation, a subsidiary of LINE Yahoo Corporation, commenced the roadshow for the Initial Public Offering of American Depositary Shares (ADS) on the U.S. stock exchange on March 2, 2026 (U.S. time). The offering consists of 31,054,254 ADS newly issued by PayPay and 23,932,960 ADS sold by selling shareholder SVF II Piranha (DE) LLC, totaling 54,987,214 ADS for the offering and secondary offering. Additionally, an overallotment option allowing for the purchase of up to 8,248,081 additional ADS is expected to be granted. The indicative price range is between 17 and 20 USD per ADS, with a listing application filed for the NASDAQ Global Select Market under the ticker "PAYP."

Domestic Secondary Offering and Future Outlook

As part of this offering, a domestic secondary offering of 8,653,079 ADS is planned, with subscription acceptance scheduled from March 3 to 7, 2026. Mizuho Securities Co., Ltd. and PayPay Securities Co., Ltd. will serve respectively as the handling securities firm and delegated sales securities firm. LINE Yahoo Corporation will maintain PayPay as a consolidated subsidiary after completion of this IPO, and significant impact on consolidated financial results or position is not anticipated. Investors are advised to review the prospectus thoroughly before making any investment decisions.