Japan’s SoftBank has officially made plans to merge Yahoo Japan and Line Corp.

Yahoo Japan, which recently changed its name to Z Holdings Corp, is set to become one with Line. The merger is currently set to be completed in October of 2020. For now, negotiations are still underway and a deal is expected sometime in December.

Line is owned by South Korea’s Naver Corp, which will hold a 50/50 stake in the new company alongside SoftBank. Line owns the very popular messaging app under the same name, but the company has been losing money. Line’s shares on the Tokyo markets were up 2.6% on the news. As Line continues to struggle, the company has been delving deeper into QR code authentication. Like many social media applications, Line is planning on launching its own payment platform, “Line Pay.” However, the company has been struggling to finance this new operation amid stiff competition, part of which comes from SoftBank’s PayPay service.

As political disagreements continue to harm South Korean-Japanese relations, this merger comes as good news. In fact, this new merger might very well become the most significant news of economic cooperation between the two countries in the last decade.