TOKYO, April 8, 2013 – Rakuten Inc. today announced it has reached an agreement on a business tie-up with Chuo Electric Power Company, Ltd. aimed at providing condominium owners in buildings under contract with Chuo Electric Power Company. The companies will inaugurate their cooperation with a campaign within the month of April that aims to win new members for Rakuten Card and Rakuten Mart.
The Chuo Electric Power Company’s wholesale electricity contract service for condominium buildings is a solution provided to condominium association boards and owners. This service changes the existing electricity supply contract between a regional electric power company and the condominium into a higher voltage wholesale electricity contract to deliver electricity at a lower price. This service has gathered substantial attention as a rapidly growing business model. Using this venture with the Chuo Electric Power Company, which is considered a pioneer in the field, Rakuten is hoping to provide new value to individual electricity customers. Additionally, moving forward Rakuten plans to support the further development of wholesale electricity contract services market through similar partnerships.
The campaign which will begin within the month of April 2013 and will award Rakuten Super Points to new card members when they join, and also upon the first use of their Rakuten Card. It will also award points to new members of Rakuten Mart, a food delivery service, once they sign-up as well as after they use the service the first time. Shipping for the first order will also be free.
Rakuten has also been focusing part of its business development ambitions on renewable energy. This is evidenced by July 2012 launch of Rakuten Solar, an online sales service for solar power generation systems, and the initiation of its Fukushima Pilot Project this spring to help companies conserve electricity by Demand Response and adopt solar power generation systems*. Moving forward, Rakuten is committed to finding new and innovative business opportunities in the field of electric power that can leverage synergies with the Rakuten Eco-system.