Naver, Line’s Korean parent company, has confirmed that the Japanese messaging platform has made a regulatory filing for an initial public offering in Tokyo.

The IPO would reportedly value Line at more than 1 trillion JPY (US$10 billion) and the service could eventually list on an exchange in the US as well.

Line announced earlier that the company plans to shift focus to casual games in North American market, and will also be looking to add US studios as partners and content providers for the platform.

In April NHN Japan confirmed that Line had topped 400 million registered users worldwide.

Line’s user base has also grown beyond core markets in Japan and Korea to include India and the Philippines, as well as Spain and South American countries like Brazil, Mexico, Colombia, Argentina and Peru. 90 per cent of Line users are based outside of Korea, with the mobile network expanding rapidly in Taiwan, Indonesia and Thailand, according to parent NHN.

In November last year Line reported 300 million registered users, as well as US$10 million in global monthly character sales. Line revenues also rose to 34.3 billion JPY (US$338 million) in 2013, with 60 per cent of earnings coming from in-game purchases.