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dateApril 20, 2006
New Issuance of Stock Options

On April 20, 2006, Rakuten, Inc. announced the new issuance of stock options as voted upon and agreed to at a Board of Directors meeting on April 20, 2006. The resolution of the new issuance of stock options was approved at the 9th Annual General Shareholders Meeting. The total number of stock options to be issued is 30,000. Each stock option represents one common share. These stock options may be exercised from March 31, 2010 to March 29, 2016 subject to company regulations and policies. The exercise price of the stock options is 101,000 yen. The intended beneficiaries of the stock options are our company's Board Directors, corporate auditors, employees and wholly owned subsidiaries' Board Directors and employees. (For full release, please refer to Japanese IR release.)

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