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FY2021 Second Quarter Consolidated Financial Results Appendix

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FY2021 Second Quarter Consolidated Financial Results Appendix FY2021 Second Quarter Consolidated Financial Results Appendix August 11, 2021 Rakuten Group, Inc. Consolidated Results 2 Q2/21 Revenue and Operating Income*1 (JPY bn) Q2/20 Q2/21 YoY Core Business*2 Revenue 306.1 350.0 +14.4% Operating Income 29.2 42.7 +46.1% Non-recurring / Investments*3 Revenue 33.2 33.9 +2.1% Operating Income -1.5 4.3 +5.9 Future Growth Investments*4 Revenue 48.3 58.6 +21.3% Operating Income -61.6 -106.8 -45.3 Adjustments Revenue -40.2 -40.3 -0.1 Operating Income 1.3 0.3 -78.7% Consolidated Revenue 347.3 402.2 +15.8% Non-GAAPoperating Income -32.6 -59.5 -27.0 IFRS Operating Income 3.3 -63.5 -66.9 *1 From Q2/21, businesses included in “Core Businesses”, “Non-recuring Investments”, and “Future Growth Investments” have been revised as follows due to segment changes. *2 Includes all the businesses other than “Non-recuring Investments” and “Future Growth Investments”. *3 Includes Securities, General Insurance and Investment Business *4 Includes Logistics-related investments and all the businesses in Mobile segment. 3 Massive Expansion of the Rakuten Ecosystem Consistent growth towards target membership value of JPY 10tn. Membership Value Target Cross JPY 10tn Use x x Unique Q2/21 Uniquex LTV Membership Value UsersUser JPY 7.4tn +2.6% YoY * Excluding Mobile business 4 Rakuten Ecosystem Membership Value Membership Value +2.6% YoY from user expansion of Ichiba, Securities etc. (JPY tn) +0.61 -0.91 +0.50 7.4 7.2 -0.01 Active user growth in LTV of Rakuten Ichiba • Rakuten Ichiba decreased due to the deviation • Rakuten Securities, etc of the COVID-19 special demand period from the LTV estimation period (July/2021- June/2021) Q2/20 Active Users x Cross-Use x (LTV - CAC) Q2/21 * Membership value of MVNO is excluded due to the ending of new applications * Membership value of German marketplace business is excluded due to its closure 5 Total Global GTV*1*2 (JPY tn) *1 Global Gross Transaction Value = Domestic E-Commerce GMS + Credit Card GTV + Rakuten Edy GTV + Rakuten Pay GTV+ Rakuten Point Card GTV + Overseas E-Commerce GMS + Rakuten Rewards (Ebates) GMS + Digital Contents GTV + Rakuten Advertising (Rakuten Marketing) GTV *2 Including intercompany transactions for settlement and affiliate services 6 Expansion of Cross-Use Ratio* *Number of Rakuten members who have utilized two or more Rakuten services during the past 12 months of the listed month (As of June 30, 2021) (Applicable services limited to those which can earn Rakuten Points.) 7 Q2/21 Consolidated Results Summary (JPY bn) Q2/20 Q2/21 YoY Revenue 347.3 402.2 +15.8% Non-GAAP Operating Income -32.6 -59.5 -27.0 Non-GAAP Operating Income Excluding Mobile, Logistics and Investment Business 34.6 46.9 +35.6% IFRS Operating Income 3.3 -63.5 -66.9 8 Q2/21 Revenue and Operating Income (JPY bn) Q2/20 Q2/21 YoY Domestic E-Commerce Revenue 132.7 163.6 +23.3% Operating Income 11.2 17.2 +52.9% Others*1 Revenue 69.1 74.3 +7.4% Operating Income -12.5 0.2 +12.7 Internet Services Segment*2 Revenue 201.8 237.9 +17.9% Operating Income -1.3 17.3 +18.7 FinTech Segment Revenue 141.7 153.2 +8.1% Operating Income 21.3 22.5 +6.0% Mobile Segment Revenue 44.0 51.5 +17.0% Operating Income -53.8 -99.7 -45.9 Adjustments Revenue -40.2 -40.3 -0.1 Operating Income 1.3 0.3 -78.7% Consolidated Revenue 347.3 402.2 +15.8% Non-GAAP Operating Income -32.6 -59.5 -27.0 IFRS Operating Income 3.3 -63.5 -66.9 *1 Due to the transfer of all shares of OverDrive Holdings, Inc. in Q2/20, OverDrive’s profit and loss has been excluded from the Q3/20. *2 From Q4/20, Contents related businesses were transferred from the Internet Services segment to the Mobile segment. In addition to this, from Q2/21, some businesses providing digital content sites in North America and those engaged in messaging services were transferred from the Mobile segment to the Internet Services segment. Past figures have also been retroactively adjusted. 9 Q2/21 Operating Income Reconciliation (JPY bn) Q2/20 Q2/21 YoY Non-GAAP Operating Income -32.6 -59.5 -27.0 Amortization of Intangible Assets (PPA) -2.7 -1.7 +0.9 Stock Based Compensation -2.3 -2.3 +0.1 One-off items 40.9 - -40.9 IFRS Operating Income 3.3 -63.5 -66.9 10 Q2/21 Non-GAAP Operating Income Breakdown ・ Rakuten Rewards (Ebates) rebranding costs: +0.5bn ・ Logistics-related (JPY bn) investments, costs: +0.6bn +6.7 +1.3 +5.9 Internet * Domestic EC Others 40.7 FinTech (excl. Minority 26.8 Investment business) -53.8 Q2/21 Q2/20 Operating Income Operating (excl. Minority -99.7 -32.6 Income Investment and (excl. Minority Mobile Segment) Investment and -59.5 -5.6 Q2/20 Mobile Segment) Q2/20 Q2/20 Loss from Loss from Mobile Segment Operating Minority Loss Investment -1.0 Q2/21 0.5 Consolidation Q2/21 Loss from Q2/21 adjustment Operating Mobile Segment Profit from Minority Loss Investment * “Internet Others” segment mainly includes overseas EC businesses and sports related businesses 11 Consolidated and Major Subsidiaries Balance Sheet (1) As of June 30, 2021 (Non-consolidated Balance Sheets include internal transactions) (JPY bn) Consolidated Rakuten Group, Inc. Rakuten Mobile, Inc. * Rakuten Group, Inc., Rakuten Bank, Ltd., Rakuten Card Co., Ltd., Rakuten Securities, Inc., Rakuten Life Insurance Co., Ltd., Rakuten General Insurance Co., Ltd. and Rakuten Mobile, inc. are based on IFRS non-consolidated balance sheets. * Bonds and borrowings = Straight corporate bonds + CP + Bank borrowings etc. * Non-consolidated Balance Sheets include internal transactions 12 Consolidated and Major Subsidiaries Balance Sheet (2) As of June 30, 2021 (Non-consolidated Balance Sheets include internal transactions) (JPY bn) Rakuten Bank, Ltd. Rakuten Card Co., Ltd. Rakuten Securities, Inc. Rakuten Life Insurance Rakuten General Insurance Co., Ltd. Co., Ltd. * Rakuten Group, Inc., Rakuten Bank, Ltd., Rakuten Card Co., Ltd., Rakuten Securities, Inc., Rakuten Life Insurance Co., Ltd., Rakuten General Insurance Co., Ltd. and Rakuten Mobile, inc. are based on IFRS non-consolidated balance sheets. * Bonds and borrowings = Straight corporate bonds + CP + Bank borrowings etc. * Non-consolidated Balance Sheets include internal transactions 13 Cash Flow Breakdown: Jan-Jun, 2021 (JPY bn) Balance of cash Balance of cash Non-Financial Businesses Financial Businesses M&A, Common Dec 31, 2020 Investments* Jun 30, 2021 Operating Investing Financing Operating Investing Financing Increase in cash and cash equivalents Other +216.7 Tax investing CF Change in Tax investment Profit Change in securities (adjusted) assets & liabilities Increase in cash and Increase in cash and cash equivalents cash equivalents Operating CF +435.2 +25.4 (Excl. Tax) * “M&A and investments” includes “Purchase of investment securities” and “Proceeds from sales and redemption of investment securities” of Non-Financial activities in addition to “Acquisition of subsidiaries” and “Acquisition of investments in associates and joint ventures” 14 Internet Services Segment 15 Domestic E-Commerce / Shopping E-Commerce GMS*1*2 Domestic E-commerce GMS maintained double digit growth in Q2/21 , despite the added impact of last year's stay-at-home demand. Shopping E-commerce GMS trends remained unchanged and continued to expand from the previous year. Q2/21 Domestic E-Commerce GMS Q2/21 Shopping E-Commerce GMS 2 Year CAGR JPY1.2tn + 3.2% + 23.6% +12.2% YoY YoY YoY *1 Domestic e-commerce GMS comprised of Ichiba, Travel GTV on checkout basis, Books, Golf, Fashion, Dream businesses, Beauty, Delivery, Rakuten 24 and other direct daily necessities shops, Auto business, Rakuma, Rebates Rakuten Seiyu Netsuper, etc. (*Excludes some tax-exempt businesses, includes consumption tax) *2 Shopping e-commerce＝Ichiba + 1st Party (Rakuten Fashion, Books, Rakuten 24 and other direct daily necessities shops, Rakuten Seiyu Netsuper) + Open EC (Rebates, Rakuten Pay online payments) + Rakuma 16 Domestic E-Commerce GMS* (JPY bn) * GMS comprises Ichiba, Travel GTV on checkout basis, Books, Golf, Fashion, Dream businesses, Beauty, Delivery, Rakuten 24 and other direct daily necessities shops, Auto business, Rakuma, Rebates Rakuten Seiyu Netsuper, etc. 17 Domestic E-Commerce Results* Revenue increased strongly, despite the added impact of last year‘s stay-at-home demand. Operating income strong at +52.9% YoY due to expansion of Ichiba, Travel business and logistics business improvement. (JPY mm) Revenue +23.3% YoY 178,528 163,607 158,263 148,742 132,152 132,681 126,000 124,183 116,072 Operating Income +52.9% YoY 20,976 15,417 17,182 12,158 14,902 12,318 10,560 11,239 12,650 Q2/19 Q3/19 Q4/19 Q1/20 Q2/20 Q3/20 Q4/20 Q1/21 Q2/21 * Domestic E-Commerce = Ichiba, Travel, Books, Golf, Rakuten Fashion, Dream businesses, Beauty, Delivery, Rakuten 24 and other direct daily necessities shops, Logistics, Auto business, Rakuma, Rebates, etc. 18 Q2/21 Domestic E-Commerce Operating Income Breakdown （JPY bn） Growth of marketplace businesses ・Rakuten Ichiba Logistics-related investments ・Rakuten Travel and costs, etc. ・Rakuten GORA, etc. -1.7 +1.6 +6.1 Investment phase businesses ・Rakuten 24 (daily necessities) ・Rakuma ・Rakuten Books 15.6 17.2 ・Rakuten Fashion 11.2 ・Rakuten BIC ・Rakuten Seiyu Netsuper, etc. Q2/20 Q2/21 Q2/21 Domestic E-Commerce Domestic E-Commerce Domestic E-Commerce Operating Income Operating Income Operating Income (Excl. logistics-related investments/costs) 19 Domestic EC Marketplace businesses* Operating Income （YoY） * Marketplace businesses comprises Ichiba, Travel, Golf, Dream businesses, etc.
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