Disclosure Policy

Basic Policy for Disclosure

The Group, as a listed company, discloses timely and appropriate information to shareholders and investors in accordance with related laws and regulations as well as rules, such as the Financial Instruments and Exchange Act and timely disclosure rules set forth by the financial instruments exchanges. In addition, the Group, as a social entity, aims to contribute to increased shareholder value by disclosing information fairly to stakeholders, such as business partners, customers, users and employees, and developing a transparent and highly reliable information disclosure system.

Disclosure System

The Rakuten Group Regulations stipulates that the Company Chief Financial Officer (CFO), is responsible for implementing timely and appropriate disclosure of information of the Group Companies (excluding the listed Group Companies other than the Company and subsidiaries of the listed Group Companies). The Company has notified the Tokyo Stock Exchange, Inc. of the designation of the Chief Financial Officer as Executive Director of Information Disclosure.
When holding dialogue with shareholders and investors, the CFO and dedicated IR staff regularly communicates with stock market.
The CFO and IR staff always grasp the situation of businesses by cooperating with related departments, and structures a system to timely and fairly disclose quarterly results and material information under the rules of financial instruments exchanges.
Disclosure of the information under the rules of financial instruments exchanges is conducted through the TDnet system.

IR Activities

The Rakuten Group discloses information about management strategies, financial performance, key management indicators and other company information necessary for investment decisions so that the Rakuten Group's corporate value is assessed appropriately. The Company provides information about the medium-to-long-term business strategy in addition to the quarterly financial results at the results conference and other events.

In addition, we actively disclose information utilizing our website to transmit information fairly and promptly to a wide range of shareholders and investors. We release the following information on our website: IR information such as the details of financial results announcement, timely disclosure information and English annual reports, and corporate governance information, etc. In addition to the video streaming of quarterly financial results briefing sessions, video of the latest company information, etc. is made available on the website.
Furthermore, by incorporating evaluations from stock markets into management, the Rakuten Group works to improve management quality and transparency.

Management of Insider Information

The Group deeply acknowledges that information on the Group and its customers, etc. is an extremely important property of the Group. Based on this recognition, the Rakuten Group Code of Ethics stipulates proper use and management of such information.
The Group has formulated the Rakuten Group Regulations for internal information management and prevention of insider trading, and strictly manages material facts and related parties and carries out awareness building activities for employees. When a material fact occurs, the date on which related parties and information recipients became aware of the material fact and the method of acquisition thereof is strictly managed.

Quiet Period

The Company has set a "quiet period" ahead of the date of financial results announcement in order to ensure fairness and prevent the leakage of financial results information. The Rakuten Group Regulations (RGR) stipulates that external comments shall not be made and inquiries about information related to financial results shall not be answered during this period; provided, however, that this shall not apply to inquiries about facts that have already been announced, or occurrence of a material fact that requires timely disclosure or statutory disclosure during this period.