Rakuten Group, Inc. (hereafter the “Company”) announces that following the new listing of Rakuten Bank, Ltd. (hereafter, “Rakuten Bank”), a consolidated subsidiary of the Company, on the Tokyo Stock Exchange Prime Market on April 21, 2023, a portion of shares held by the Company was sold. It is expected that 71,255 million yen (approximate) will be recorded as extraordinary profit on the sale of affiliated company stock, in the non-consolidated financial statements (J-GAAP) of the Company.
In addition, regarding the overview of the offering of newly issued shares and the sale of a portion of the common stock of Rakuten Bank held by the Company, and the impact on the consolidated financial results of the Company, please refer to the disclosure “Notice Regarding Recording of Changes in Equity and Gains/Losses on Sale of Shares Accompanying the Issuance of Shares for Subscription by a Subsidiary and the Sale of a portion of the Subsidiary's Shares”.
１. Details of gain on sales of shares of the affiliated company
In the non-consolidated financial results of the Company for the fiscal year ending December 31, 2023 (Japanese GAAP), we expect to record an extraordinary gain of 71,255 million yen (estimated) on the sale of affiliated company shares due to the partial sale of Rakuten Bank's common stock held by the Company.
２. Impact and outlook on performance
The gain on the sale is expected to be recorded as an extraordinary gain in the non-consolidated financial statements of the Company. In addition, the Company prepares consolidated financial statements in accordance with International Financial Reporting Standards (IFRS). For the impact of this matter on the consolidated financial results, please refer to the "Notice Regarding Recording of Changes in Equity and Gains/Losses on Sale of Shares Accompanying the Issuance of Shares for Subscription by a Subsidiary and the Sale of a portion of the Subsidiary's Shares” disclosed by the Company today.