At close to 10 billion dollars Line Corp was the biggest tech IPO of the year - when it launched on the U.S. market in 2016.
It could be now be joining forces to form a tech giant worth - at a possible 27 billion dollars - nearly three times that.
Discussions are underway between the messaging app operator and Z Holdings - known until last month as Yahoo Japan.
The two would bring together Japan's biggest QR code payment apps
Combining a potential customer base of 100 million users.
If, at this point, Line's services are money-losing - and nothing has been decided, it said, regarding a merger.
For its part, Z Holdings - which is nearly half owned by Softbank Corp - also disclosed it's acquired a 50.1% stake ...
In fashion e-tailer Zozo - in a 3.7 billion dollar deal.
Markets though took their lift from the merger talks - driving Line's shares up by 15%.
And Z Holdings by nearly 17%.