LY's (TYO:4689) board of directors has approved the succession of the Japanese Public Key Infrastructure (JPKI) service from its subsidiary, LINE Pay, according to its filing on Tuesday.

The transition will occur through an absorption-type company split, effective April 1.

This decision aligns with the previously announced termination of the LINE Pay Service in Japan.

The absorption-type split aims to ensure a smooth transition and maintain stable JPKI service provision.

LY will acquire all relevant assets, contracts, and obligations from LINE Pay as part of this process.

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