Rakuten, Inc. (“Rakuten,” Chairman and CEO: Hiroshi Mikitani, Head Office: Shinagawa-ku, Tokyo) today received the decision dated April 19, 2011, that the Supreme Court of Japan dismissed Rakuten’s appeal regarding the purchase request for 37,770,700 Rakuten-held shares in Tokyo Broadcasting System Holdings, Inc. (“Tokyo Broadcasting System Holdings”).
The Supreme Court decided that Rakuten will sell the shares to Tokyo Broadcasting System Holdings at \1,294 per share, the price determined by the Tokyo District Court and the Tokyo High Court. (As previously announced, we have already received proceeds from the sale of the shares in the amount calculated at \1,294 per share [approximately \48.8 billion] under an agreement with Tokyo Broadcasting System Holdings.)
As Rakuten has already lowered the book value of the share holdings to \1,294 per share in the business year that ended on December 31, 2010, the latest Supreme Court decision on the case will not result in any additional loss. If necessary, Rakuten will make further information available on the impact of the decision on taxes and other matters, after careful examination.