TOKYO, January 23, 2013 – Rakuten, Inc. (JASDAQ: 4755) today announced that it has signed an agreement with Itochu Corporation for the acquision of a portion of Itochu’s shares in Ecosystem Japan Co., Ltd. by Rakuten’s wholly-owned subsidiary RS Empowerment Inc. (RSE). The transaction shall be completed following approval from the relevant authorities. Under the agreement, RSE will come to hold a 33.40% stake in Ecosystem Japan, thereby reducing Itochu’s stake in the company from 82.65% to 49.25%.
In July 2012, Rakuten and Ecosystem Japan began the “Rakuten Solar" service. This joint venture has already seen the successful sales and installation of many solar power generation systems. This capital investment by Rakuten into Ecosystem Japan will expand the two companies’ relationship and encourage further active efforts on solar power generation projects.
As shareholders in Ecosystem Japan, Rakuten and Itochu will utilize their respective strengths and continue close collaboration to increase the corporate value of Ecosystem Japan. Rakuten will support the company’s online sales through its e-commerce services, while Itochu will enhance the company’s management and procurement capabilities through use of its domestic and international networks.
January 23, 2013
- Rakuten, Inc.
Rakuten Signs Agreement with Itochu for the Acquisition of Ecosystem Japan Stock
Outline of Ecosystem Japan
Company name: Ecosystem Japan Co., Ltd.
Head Office: Minato-ku, Tokyo
Representative Director: Toshio Shigemi, President and CEO
Establishment: May 1997
Capital: 372,830,000 yen
Main businesses: Solar power generation system sales/installations and all related work. Operates through 14 offices across Japan, including in Tokyo, Osaka, Nagoya, Sapporo, and Fukuoka.
Employees: 292 (consolidated; as of October 2012)