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.