Revision of Dividend Forecast (Commemorative Dividend Upon Listing on the First Section of the Tokyo Stock Exchange)
for the Year Ending 2013

At the Board of Directors meeting today, Rakuten, Inc. resolved to revise its dividend per share forecast for the year ending December 2013.

1. Reason for Revision of Dividend Forecast
Today, Rakuten, Inc. received approval from the Tokyo Stock Exchange to change its stock market listing, effective December 3, 2013, to the First Section of the Tokyo Stock Exchange. We would like to express our appreciation for the continued support of our shareholders, stakeholders, and customers.
Accordingly, to show our gratitude for the ongoing support of our shareholders, the Board of Directors today passed a resolution to commemorate the listing on the First Section of the Tokyo Stock Exchange and to celebrate the first victory of the Tohoku Rakuten Golden Eagles, by offering a commemorative dividend of 1 yen per share as part of the dividend payment for the year ending December 2013.

 2. Revision

 Note: The ordinary dividend for the fiscal year ending December 2013 is scheduled to be implemented after being determined at a Board of Directors meeting in February 2014.