November 27, 2018 / 5:09 AM / a year ago

Japan's Line Corp to establish bank in tie-up with Mizuho: source

FILE PHOTO - The logo of Line Corp is seen at the company's headquarters in Tokyo, Japan, January 25, 2017. REUTERS/Toru Hanai/File Photo

TOKYO (Reuters) - Japanese mobile chat app operator Line Corp will tie up with Mizuho Financial Group Inc to establish a bank, a source with direct knowledge told Reuters on Tuesday, declining to be identified because the plan is not yet public.

Mizuho is scheduled to hold a news conference at 3:30 p.m. (0630 GMT) to brief on a new business. Officials at the bank were not immediately available to comment on the tie-up with Line, which was first reported by public broadcaster NHK.

Line did not immediately respond to a request for comment.

Reporting by Taiga Uranaka; Editing by Chang-Ran Kim

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