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dateMarch 1, 2006
Issue of New Shares and Sale of Existing Shares

Rakuten, Inc. announced that the board of directors approved on March 1, 2006 that the Company makes a public offering consisting of newly issued shares and existing shares.

1. Offering of newly issued shares
- Number of shares to be issued
1,150,000 shares of common stock

- Issue price
Undecided (to be determined on any day during March 14, 2006 through March 16, 2006)

2. Sale of existing shares
(1) Number of shares to be sold
- 200,000 shares of common stock

(2) Sales price
Undecided (to be determined on any day during March 14, 2006 through March 16, 2006)

3. Use of Proceeds
Proceeds are to be used for capital injection to Rakuten KC Co., Ltd, one of our consolidated subsidiaries, and repayment of debt. (For full release, please refer to Japanese IR release.)

This material is not an offer of securities for sale into the United States. The securities may not be offered or sold in the United States unless they are registered or exempt from registration and any public offering of securities to be made in the United States.
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