Rakuten, Inc. (hereafter “the Company”) announces that with an effective date of October 1, 2018 (expected), the company has decided that the "Rakuten Manga" and "Comic Manga★ Manga Gakuen" business conducted by the company will be succeeded to Mediano Co., Ltd., a subsidiary of MTI Ltd., by way of a company split (hereinafter referred to as the "Company Split"), as described below.
Since this absorption split corresponds to simplified absorption split to which the provision of Article 784, Paragraph 2 of the Companies Act applies, the disclosure of certain items and details have been omitted from this announcement*.
*Disclosure of certain items and details have been omitted as the impact on the Company’s consolidated total assets related to the Company Split is estimated to be less than 10%, and also less than 3% of the Company consolidated revenue as of the end of December 31, 2017.
- Purpose of the company split
"Rakuten Manga" has provided services to purchase and/or view e-Comics through a web-browser and use of a dedicated application since April 2016. "Comic Manga★Manga Gakuen", which the Company acquired in February 2009, also has provided similar services through feature phones. (hereinafter both business referred to as "the Business")
While these services have been used by many users, due to change in the competitive environment of the domestic e-Comics market, the Company has decided to transfer the rights of the Business to Mediano Co., Ltd to accelerate its further growth.