Tokyo, Japan | August 1, 2012 — Rakuten, Inc. hereby announces that it has resolved at the Board of Directors meeting held today to underwrite capital increase by third party allotment of new shares issued by Kenko.com, Inc. (head office: Minato-ku, Tokyo; hereinafter “Kenko.com”), which operates health-related product sales and EC (e-commerce) business, (hereinafter “Capital Increase by Third Party Allotment”). Rakuten, Inc. also announces that a subsidiary transfer is expected due to the Capital Increase by Third Party Allotment.
Background and reason
Rakuten, Inc. continues to address scale expansion and enhancement of strategies based on each product category of Rakuten Ichiba, an Internet shopping mall. At present, purchase of daily commodities and health-related products in the Internet shopping market has become common, and trading volume has steadily increased.
Kenko.com is known as a leading company in the health-related EC field in Japan, and is one of major merchants in the same field as Rakuten Ichiba. For the purpose of further EC development in the daily commodity and health-related fields with Kenko.com, Rakuten, Inc. will acquire the stocks of Kenko.com.
It has been agreed that Rakuten, Inc. and Kenko.com will mutually discuss such as expansion of sales of health-related products, increasing efficiency of logistics infrastructure and systems, the possibility of overseas operation development, and strengthening sales of drugs by the Internet.
Additionally, Rakuten, Inc. and Kenko.com have agreed under the agreement related to Capital Increase by Third Party Allotment that Kenko.com will submit a proposal for election of Directors, including four Director candidates appointed by Rakuten, Inc., to the 18th Ordinary General Meeting of Shareholders of Kenko.com scheduled to be held on June 26, 2012.
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