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dateJuly 21, 2006
Sales of Investment Securities

Rakuten, Inc. announced today that it recorded a gain from sales of investment securities.
1. The dates of sales of investment securities: July 13 and 19, 2006
2. Sales of the investment securities ・ Investment securities sod : 40,000 common stocks of CyberAgent, Inc
・ Value of the sales of the investment securities: 5,439 million yen
・ Gain from the sales of the investment securities: 4,524 million yen
3. Reason of the sales of the investment securities

In December 2001, Rakuten, Inc. acquired shares of CyberAgent, Inc. in order to achieve two aims: enhance advertising sales, and strengthen its relationship with CyberAgent.CyberAgent and Rakuten Group have established a friendly relationship over the past four years. Rakuten, Inc. has decided that it has achieved its original aims set out prior to the investment in CyberAgent and thus, has decided to sell 40,000 shares from its shareholding of 60,480 of CyberAgent. (For full release, please refer to Japanese IR release.)

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