Notice regarding Approval for Banking Operations in Taiwan

  Rakuten, Inc. (Chairman and CEO: Hiroshi Mikitani, hereinafter “the Company”) announces that on July 30, 2019, Rakuten Bank, Ltd. (CEO: Hiroyuki Nagai, hereinafter “Rakuten Bank”) and Rakuten Card Co., Ltd. (CEO: Masayuki Hosaka, hereinafter “Rakuten Card”), wholly owned subsidiaries of the Company, with IBF Financial Holdings Co., Ltd. (hereinafter “IBF”), received necessary approvals to start a banking operation in Taiwan.

1. Purpose and background

   Since the launch of an E-Commerce service in 2008, Taiwan Rakuten has expanded its business into areas such as credit cards, travel, flea market app, and e-books. Taiwan Rakuten has formed a strong ecosystem centered around the E-Commerce and credit card businesses, making it one of the most important regions within our overseas business.
  To further strengthen the ecosystem within Taiwan, Rakuten Bank and Rakuten Card applied for and received the necessary approvals to operate an online banking business with IBF, which had already been considering to enter the banking business. Our target is to start providing banking services within fiscal year 2020.

2. Overview of the Joint Venture

(Note) Head Office, Representative, date of establishment, total assets, net assets are undecided

3. Overview of Rakuten Bank

4. Overview of Rakuten Card

5. Overview of IBF Financial Holdings Co., Ltd.

6. Impact on business performance

  At present, the potential impact on Rakuten Group consolidated financial performance is expected to be limited. We will promptly announce any matters that require disclosure in the future.