September 30, 2021

Announcement Regarding Start of Preparation for Initial Public Offering of Rakuten Bank, Ltd.

   Rakuten Group, Inc. (hereafter the “Company”) announces that at a board of directors meeting held today, we have resolved to start preparing for the listing of the shares of our consolidated subsidiary Rakuten Bank, Ltd. (hereinafter "Rakuten Bank").


   Up until now, the Company has set "empowering people and society through innovation" as its basic management philosophy. In Japan and overseas, we have developed more than 70 internet services in a wide range of fields such as e-commerce, travel, and digital contents, credit cards, banking, securities, etc.. In addition, we have developed e-money, Fintech (financial) services such as smartphone app payments, mobile services such as our mobile carrier business, and professional sports, all based on membership centered on Rakuten members. We have formed a unique "Rakuten ecosystem" that connects services to each other. By creating an environment where members in Japan and overseas can use multiple services in a migratory and continuous manner, synergistic effects such as maximizing the lifetime value per member and minimizing customer acquisition costs can be achieved, with the aim of creating and maximizing group profits.

   In order for the Company to continue to grow sustainably in the rapidly changing Internet industry, we aim for a system that enables swift decision-making in each business, while further increasing the capital efficiency of each business, based on the business environment surrounding each business. Hence we believe it is important to improve the competitiveness and mobility of the Company through a constructive approach. We believe that the expansion and autonomous acceleration of the Rakuten ecosystem through the further enhancement of services through advanced technology, and the enhancement of the value of each business, will contribute to maximizing the corporate value of the Company. Against this background, Rakuten Bank believes that through the listing of its shares, it will be possible to carry out management with a more autonomous perspective, and to consider various growth and financial strategies, including its own financing.

   Expansion of the Rakuten ecosystem is important for the further sustainable growth of the Company, and when preparing for the listing of Rakuten Bank's shares, the Company will continue to develop the Group, especially the FinTech business, even after the listing, as Rakuten Bank is an important consolidated subsidiary of the Company. We will continue to consider the organizational structure and capital structure of the Company in consideration of creditworthiness and financial soundness, and aim to maximize the growth and corporate value of the Company. Regarding the listing of shares, in addition to the approval from the relevant authorities, depending on the results of the examination in the preparatory process, there is a possibility we may even conclude that the Company may need to be reorganized, or that Rakuten Bank shares may not become listed. Therefore, the scheduled listing date has not yet been decided at this time, but we will disclose it as necessary based on the progress.


Overview of Rakuten Bank, Ltd. (As of March 31, 2021)



Rakuten Bank, Ltd.


Head office address

NBF Shinagawa Tower, 2-16-5 Konan, Minato-ku, Tokyo


Name and title of representative

Hiroyuki Nagai, President


Business outline

Online banking


Share capital

25,954 million yen


Date of establishment

January 14, 2000


No. of issued shares



Fiscal year end

March 31


Main shareholder and % holding

Rakuten Card Co., Ltd (100%)


Business performance and financial position for the last 3 years


Fiscal year (consolidated)

As of March 31, 2019

As of March 31, 2020

As of March 31, 2021


Consolidated Net Assets





Consolidated Total Assets





Consolidated Recurring Revenue





Consolidated Ordinary Income





Profit attributable to owners of parent




 Note: Millions of yen, rounded down



Note: This disclosure document is not part of an investment offer for any securities. This disclosure document is a statement to publicly announce the possibility of issuing new shares of a group company, and was not prepared for the purpose of soliciting investment or similar acts both in Japan and overseas. In addition, this disclosure document does not constitute an offer of securities in the United States. You may not offer or sell securities in the United States unless you register or are exempt from registration under the Securities Act of 1933. When a public offering of securities is made in the United States, an English prospectus prepared under the Securities Act of 1933 in the United States will be used. The prospectus may be obtained from the issuer or seller of the securities, which provides detailed information about the issuer and its management as well as its financial statements. No public offering of securities will be made in the United States in this case.

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

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