3. Future outlook
In the Company's consolidated financial statements for the second quarter of the fiscal year ending December 31, 2023, the Company expects to record proceeds from the disposal of JPY 71,755 million. Such proceeds are calculated by multiplying 53,951,300 shares, the total number of shares to be sold by the Company, by the proceeds after underwriting discounts in such offering of JPY 1,330 per share.
Since Rakuten Bank will continue to be a consolidated subsidiary of the Company in the Company's consolidated financial statements, the amount equivalent to the sales income or loss on the disposal in such offering (after expenses and taxes), will be recorded in capital surplus in the consolidated statement of financial position. We will promptly announce the specific impact on Company's consolidated financial statements as soon as it becomes clear.
Note: This disclosure document is a press release to publicly announce the term of disposal partial offering of shares owned by the Company following the listing of the shares of Rakuten Bank on the Tokyo Stock Exchange. It was not created for the purpose of soliciting investment or similar acts. Please make your own judgement when making an investment decision regarding the primary offering and Secondary Offering of Rakuten Bank shares as resolved at the Rakuten Bank board of directors meeting held on March 22, 2023 and April 5, 2023, the “Prospectus for Issuance of New Shares and Secondary Offering of Shares” prepared by Rakuten Bank (and corrections). The “Prospectus for Issuance of New Shares and Secondary Offering of Shares” (and corrections) can be obtained from the underwriting securities companies.
In addition, this disclosure document is not part of an investment offer for any securities. This disclosure document is a statement to publicly announce the possibility of the listing of shares and issuing new shares of a group company, and was not prepared for the purpose of soliciting investment or similar acts both in Japan and overseas. This disclosure document does not constitute an offer to sell or a solicitation of an offer to purchase any securities in the United States. The securities referred to above have not been, and will not be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration thereunder or an applicable exemption from registration requirements. The securities referred to above will not be publicly offered or sold in the United States.