July 1, 2019
  • RAKUTEN, INC.

Announcement of Accounting treatment of Lyft, Inc. Shares

 

  The shares of Lyft, Inc. (hereinafter “Lyft”) that Rakuten (hereinafter “the Company”) holds have previously been measured at fair value through profit or loss. However, it has been decided that the equity method will be applied from the second quarter of the fiscal year ending December 2019 because, among other considerations, the Company owns shares and, through its own appointed director, is actively involved with the board of directors, and can therefore exercise significant influence over Lyft.

  The Company will record an unrealized loss of JPY 28.4 billion in the second quarter of the fiscal year ending December 2019 as a result of this change in accounting method.

*Please note that the information contained in press releases is current as of the date of release.

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