Rakuten Bank applies for listing on Tokyo Stock Exchange
Rakuten Group, Inc announces that its subsidiary Rakuten Bank, Ltd applied for listing on the Tokyo Stock Exchange today.
Rakuten Group has set “empowering people and society through innovation” as its basic management philosophy. In Japan and overseas, the Group has developed more than 70 services in a wide range of fields such as e-commerce, travel, and digital contents, credit cards, banking, securities, etc. In addition, the Group has 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.
The Group has been preparing for the listing of Rakuten Bank’s shares since September 2021. The Group believes that through the listing of Rakuten Bank’s shares, Rakuten Bank will be able 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 Group, and when preparing for the listing of Rakuten Bank’s shares, the Company assumes that, even after the listing, Rakuten Bank will remain an important consolidated subsidiary of the Company, in particular in developing the Group’s FinTech Business.
Regarding the listing of shares of Rakuten Bank on the Tokyo Stock Exchange, it is necessary to obtain approval from Tokyo Stock Exchange, Inc. after a future listing examination by the Japan Exchange Regulation. Therefore, availability of the listing and the scheduled listing date have not yet been determined.