Rakuten, Inc. (Chairman and CEO: Hiroshi Mikitani, hereinafter “the Company”) announces that the procedures for the transfer of all shares in OverDrive Holdings, Inc. indirectly held by the Company and directly held by Rakuten USA, Inc., a wholly-owned, direct subsidiary of the Company, to Aragorn Parent Corporation (Representative: Richard Sarnoff) were completed on June 9, 2020 (EDT), as announced in the press release “Announcement of Agreement Regarding Transfer of All Shares of OverDrive Holdings, Inc.” dated December 25, 2019.
The Company expects to record a gain of about JPY 39 billion from the transfer of shares of OverDrive Holdings, Inc. in FY2020 Q2 consolidated results.