Announcement of Completion of Succession of Business by Company Split (Simplified absorption-type split) and Establishment of Joint Venture with Japan Post Co., Ltd.

   As announced on April 28, 2021 (“Announcement of Succession of Business by Company Split (Simplified absorption-type split) and Establishment of Joint Venture with Japan Post Co., Ltd.”), the succession of the logistics business conducted by Rakuten Group, Inc. (hereinafter “Rakuten”) to JP Rakuten Logistics, LLC. (hereinafter “JP Rakuten Logistics”), which was established as a wholly-owned subsidiary of Rakuten in May 2021 has been completed by way of a company split, and the subsequent establishment of the joint venture has been completed on July 1, 2021 through the acquisition of the equity interest of JP Rakuten Logistics by Rakuten and Japan Post Co., Ltd. (hereinafter “Japan Post”). Japan Post holds 50.1%, and Rakuten holds 49.9% of the ownership of JP Rakuten Logistics, and JP Rakuten Logistics becomes an associate of Rakuten accounted for using the equity method.