Rakuten, Inc. (hereafter “the Company”) announces that at the meeting of the Board of Directors held today, it resolved to partially change some details of the group reorganization (hereafter “the Group Reorganization”) announced on August 6, 2018 (“Announcement of Group Reorganization by a Company Split”).
1. Background and Reasons for Changes
As described in "Announcement of Group Reorganization by a Company Split” on August 6, 2018, we have been preparing the Group Reorganization through a company split, to clarify accountability, improve management efficiencies and optimize allocation of resources, and thereby further grow and expand the Rakuten Ecosystem and maximize corporate value. In the course of examining the detailed scheme afterwards, we decided to change some details as a result of comprehensively considering future management strategy, the optimal allocation of management resources, the sophistication of the company system, and efficient business management, etc.
Regarding the reorganization related to the internet services business, we decided not to establish the subsidiary through an absorption-type split of the internet services business with the Company as a split company. Separately, Rakuten Direct, Inc., a wholly-owned subsidiary of the Company, will be merged into the Company through an absorption-type merger.
Regarding the reorganization related to the mobile business, the MVNO (Mobile Virtual Network Operator) business developed by the Company, and Rakuten Communications Corp., a wholly-owned subsidiary of the Company, will be succeeded to Rakuten Mobile Network Inc., a wholly-owned subsidiary of the Company.
Regarding the reorganization relating to the FinTech business, as announced on August 6, 2018, as a result of the absorption-type split with the Company as the split company, the shares etc of the Company's FinTech business, excluding the shares of Rakuten Card Co., Ltd. and Rakuten Edy, Inc., wholly-owned subsidiaries of the Company, will transfer to Rakuten Card Co., Ltd.
In addition, in order to achieve more integral promotion of the payments business operated by the Group, as a result of the absorption-type split with the Company as the split company, the Company's payments-related businesses (Rakuten Pay business for real store payments, Point Partner business, Edy business etc.) and shares of Rakuten Edy, Inc., with Rakuten Card Co., Ltd. as a split company, the shares of everybody's bitcoin Inc. will transfer to Spotlight Inc., a wholly-owned subsidiary of the Company. Apart from the above, there are no other changes for the FinTech business compared to the announcement on August 6, 2018.