Rakuten, Inc. (Chairman and CEO: Hiroshi Mikitani, hereinafter “the Company”) announces that on January 19, 2021, RAKUTEN INTERNATIONAL COMMERCIAL BANK CO., LTD. (Representative: Chien Ming-Ren, hereinafter “RAKUTEN INTERNATIONAL COMMERCIAL BANK”) which completed its registration of establishment on May 18, 2020, after obtaining a business license, has started business activities.
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”), have been preparing for the commencement of the business activities after receiving necessary approvals to start a banking operation on July 30, 2019 from the Financial Supervisory Commission, which is the financial supervisory authority of Taiwan.
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.