Announcement of Establishment of Immediate Stock Holding Company “Rakuten Insurance Holdings Co., Ltd.” through Intra-Group Stock Transfer

  At a Board of Directors held today, Rakuten Life Insurance (hereinafter the “Rakuten Life Insurance”), Asahi Fire and Marine Insurance Co., Ltd.^*,　Rakuten SS Insurance Co., Ltd. (hereinafter the “Rakuten SS Insurance”), Rakuten Insurance Planning Co., Ltd. (hereinafter the “Rakuten IP”) and Rakuten Anser Insurance Co., Ltd. (hereinafter the “Rakuten Anser”) resolved the establishment of an immediate stock holding company “Rakuten Insurance Holdings Co., Ltd.” (hereinafter the “Rakuten Insurance Holdings”) through intra-group stock transfer, on the assumption of approval of shareholders’ meeting of each company and the authorities concerned.
^*Company name will be changed to “Rakuten General Insurance Co., Ltd.” since July 2. 2018. (hereinafter the “Rakuten General Insurance”)

1．Purpose

  The insurance group, which consists of the above mentioned five companies, currently operates a life insurance, casualty insurance, small amount short term insurance, and insurance agency business, which provides products and services to its members and customers.
  While each company currently operates individually, we believe a framework to support prompt, precise, and unified decision making and governance is necessary to accomplish Rakuten Group’s mission of “Empowering individuals and society through innovation”.
  We have resolved to establish a holding company to oversee its subsidiaries, to fulfill the diversifying insurance needs of our customers and to provide the most optimal insurance service.

2．Outline of stock transfer

(1)Schedule

June 11                       Board of Directors（5 companies）

June 28（Expected）  Shareholders’ meeting （5 companies）

July 2 （Expected）　 Establishment of Rakuten Insurance Holdings(Effective date)

(2)Scheme

Joint share transfer by 5 companies

(3)Share transfer ratio

(4)Basis for Calculation

  Based on the appropriate evaluation of net asset per share of each wholly owned subsidiary and its business.

3.．Overview of each company

4．Outline of the Immediate Stock Holding Company

(1)Company name　　　　　 Rakuten Insurance Holdings Co., Ltd.
(2)Main business　　　　　　Management of subsidiaries operating insurance and
　　　　　　　　　　　　　　insurance agency business and ancillary business
(3)Date of establishment　  　July 2, 2018
(4)Head office 　　　　　　　7 Kandamitoshiro-cho, Chiyoda-ku, Tokyo
(5)Representative　　　　  　Yuzo Hashiya
(6)Major shareholders and
percentage of shares held　　Rakuten, Inc.（100.0%）
(7)Outstanding no. of shares　18,534
(shares)
(8)Capital (million yen)　　　　9,911
(9)Accounting period　　　　  March 31
(10)Management

Director and Chairman（Part-time）   Masayuki Hosaka
Director and President               　  　Yuzo Hashiya 

Director                    　　　　　　　　Takeomi Tanaka
Director（Part-time）   　　　　　　　Kenji Hirose
Director（Part-time）   　　　　　　　Yasuhiko Shinkai
Director（Part-time）   　　　　　　　Tomonori Soeda
Director（Part-time）   　　　　　　　Akiyoshi Sawaya

Outside auditor （Full-time）   　　　 Yoshiaki Nishikawa
Outside auditor        　　　　　　　 　Akio Yamada
Outside auditor        　　　　　　　　 Takuto Kawanishi

(11)Structure

 
Furthermore, on the assumption of approval of shareholders’ meeting of each company, the management structure of Rakuten Life Insurance and Rakuten General Insurance will be as follows.

5．Effects on consolidated financial results

  Effects on the consolidated financial results is expected to be limited, as the establishment of immediate stock holding company is through a reorganization (share transfer) of wholly owned subsidiaries within the group.