Jakarta and Tokyo, June 1, 2011 -- Rakuten, Inc. (“Rakuten”) and PT Global Mediacom Tbk (“MNC Group”), which include PT Media Nusantara Citra Tbk. (“MNC”), the largest and the most integrated media company in Indonesia, have established a joint venture in Indonesia to launch an Internet shopping mall called “Rakuten Belanja Online” ("RBO")
Since the signing of the joint venture agreement in May 2010, Rakuten and MNC Group have been diligently preparing for today's official launch of RBO. Initially, RBO will be offering domestically produced products to Indonesian consumers by local merchants by replicating Japan's Rakuten Ichiba B2B2C Internet shopping mall model. RBO will offer a wide range of merchandise from Indonesia’s top retailers, such as consumer electronics from “Electronic Solution,” books from “Kinokuniya,” and for the golf enthusiasts,“Top Golf.” RBO greatly supports local brands and handicrafts by providing goods from top local cosmetic brands “Mustika Ratu” and “Martha Tilaar” as well as goods from prominent department stores “Alun-Alun” and “Sarinah.”
Over the medium and long-term, RBO will be linked to Rakuten Group’s e-commerce sites in other countries including Japan’s Rakuten Ichiba.
Rakuten's Chairman and CEO Hiroshi Mikitani commented, “Rakuten Belanja Online is the realization of a joint venture between Rakuten and MNC Group with the hope of enriching the lives of the Indonesian people by providing a fun, safe and a convenient place to shop for goods and services. RBO is expected to contribute to the growth of Indonesia's e-commerce by empowering merchants and consumers through the power of the internet.”
Group President and CEO of MNC Group, Hary Tanoesoedibjo added, “Rakuten and MNC Group aims to closely cooperate together to develop and expand RBO to be Indonesia’s No.1 internet shopping mall by capitalizing on Rakuten’s expertise in e-commerce as the largest online shopping mall in Japan and MNC Group's significant presence in the media industry with its leading positions across many different media platforms for the effective and efficient placements of advertisements and promotions.
Indonesia has the fourth largest population (240 million) in the world and the largest number of internet users (33 million) as compared to other countries in Southeast Asia with tremendous growth potential for e-commerce.
RBO will employ an escrow service to ensure a safe and secure transaction between consumers and merchants and deliver highly convenient and reliable services. RBO has formed an agreement with well-known banks in Indonesia such as BCA and Bank Mandiri to facilitate payments through the Internet and other banks will be joining similar partnerships soon. In order to secure a reliable distribution network, RBO will seek cooperation with major partners in Indonesia.
＜Outline of the Joint Venture＞
(1)Name of the Service: Rakuten Belanja Online
(2)Description of Business: engaged in internet shopping mall in Indonesia
(3)Amount of Planned Investment: Rp60 billion (approximately \558 million; converted at Rp100 =\0.93)
(4)Investment Ratio: Rakuten has 51% and MNC Group has 49%
(5)Representative: President Director & CEO Ryota Inaba
About Global Mediacom
Global Mediacom ("MNC Group") is the largest and the most integrated media group in Indonesia with operations encompassing content & advertising based media, subscriber based media and media support and infrastructure.
Content and advertising based media is operated through PT Media Nusantara Citra Tbk. ("MNC”). MNC's operations encompasses content production, content distribution, three out of ten national free-to-air televisions, local free-to-air network with a national coverage, production of 24 hour TV program channels, newspaper, tabloid, magazine, radio networks, online portal, value added services, advertising agency and talent management. MNC has the largest content library in Indonesia, comprising over 100,000 hours of entertainment and news content and increasing by more than 10,000 hours per year.
Subscriber based media is operated through PT MNC Sky Vision, the largest pay-TV operator in Indonesia through two leading brands - Indovision and Top TV. MNC Group has another subsidiary with its own pay TV license called Nusantara Vision with its brand OkeVision.
Media support and infrastructure is operated by PT Infokom Elektrindo that provides broadcast tower, transmission system and as the SMS gateway for MNC Group. For more information please visit www.mediacom.co.id.
Rakuten, Inc. (JASDAQ: 4755), is one of the world’s leading internet service companies, providing a variety of consumer and business-focused services including e-commerce, travel, banking, securities, credit card, e-money, portal & media, online marketing and professional sports. Rakuten is expanding globally and currently has operations throughout Asia, Western Europe and North America. Founded in 1997, Rakuten is headquartered in Tokyo and has over 10,000 employees worldwide. For more information please visit http://global.rakuten.com/group/.