Notice concerning the differences in accounting practices between Japanese Generally Accepted Accounting Principles (J-GAAP) and International Financial Reporting Standards (IFRS) on the Consolidated Financial Statements for the fiscal year ended December 31, 2011

  Further to the announcement by Rakuten, Inc. on December 20, 2012 regarding “Notice of Voluntary Application of International Financial Reporting Standards (IFRS),” we have outlined in the attached Appendix the major differences in accounting practices between Japanese Generally Accepted Accounting Principles (J-GAAP) and International Financial Reporting Standards (IFRS) for the consolidated financial statements of fiscal 2011 (January 1, 2011 to December 31, 2011).