Rakuten Payment has become a consolidated subsidiary of Rakuten Card.

Let’s recall that Rakuten Card created a share delivery plan and passed a resolution to approve the share delivery plan at the Rakuten Card shareholders meeting on October 11, 2023. The minimum number of Rakuten Payment common stock that Rakuten Card would receive in this Share Delivery was set at 276,800 shares, but since this has exceeded the minimum number, this Share Delivery became effective on November 1, 2023, and Rakuten Payment has become a consolidated subsidiary of Rakuten Card.

Additionally, Rakuten Card allocated 5,479 newly issued shares of Rakuten Card common stock to the company.

The simplified absorption-type split in which the Rakuten Pay business and Rakuten Point business operated by the company will undergo a company split, with the company as the splitting company, and Rakuten’s consolidated subsidiary Rakuten Payment, Inc. as the successor company also became effective on November 1, 2023. Hence, the reorganization including the share transfer announced on August 10, 2023 has been completed.