May 19, 2020
  • RAKUTEN, INC.

Notice regarding the Completion of Registration to Establish a Joint Venture in Taiwan

 

  Rakuten, Inc. (Chairman and CEO: Hiroshi Mikitani, hereinafter “the Company”) announces that on May 18, 2020, Rakuten Bank, Ltd. (Representative Director and President: Hiroyuki Nagai, hereinafter “Rakuten Bank”) and Rakuten Card Co., Ltd. (Representative Director and President: Masayuki Hosaka, hereinafter “Rakuten Card”), wholly owned subsidiaries of the Company, with IBF Financial Holdings Co., Ltd. (hereinafter “IBF”), completed the registration to establish a joint venture in Taiwan after receiving necessary approvals to start a banking operation on July 30, 2019.

 

1.Overview of the Joint Venture

(1)

Company Name

RAKUTEN INTERNATIONAL COMMERCIAL BANK CO., LTD.

(2)

Head Office

11F, No.433, Songjiang Road, Taipei

(3)

Representative

Chien Ming-Ren

(4)

Date of Establishment

May 18, 2020

(5)

Business

Electronic banking services

(6)

Capital

TWD 10 billion

(7)

Fiscal year

December

(8)

Ownership

Rakuten Bank 50%, Rakuten Card 1%,
IBF 49%

 

2.Overview of Rakuten Bank

(1)

Company Name

Rakuten Bank, Ltd.

(2)

Head Office

1-14-1 Tamagawa, Setagaya-ku, Tokyo

(3)

Representative

Hiroyuki Nagai

(4)

Description of Business

Electronic banking services

(5)

Capital

25,954 million yen

 

3.Overview of Rakuten Card

(1)

Company Name

Rakuten Card Co., Ltd.

(2)

Head Office

2-6-21 Minami-Aoyama, Minato-ku, Tokyo

(3)

Representative

Masayuki Hosaka

(4)

Description of Business

Credit cards, card loans, credit guarantees

(5)

Capital

19,323 million yen

 

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

(1)

Company Name

IBF Financial Holdings Co., Ltd.

(2)

Head Office

4F. No.167 Section 2, Nanjing East Road, Taipei City 104, Taiwan

(3)

Representative

Wea Chi-Lin

(4)

Description of Business

Financial services

(5)

Capital

TWD 28,480 million

 

5.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.  

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

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