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FY2020 Third Quarter Consolidated Financial Results

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FY2020 Third Quarter Consolidated Financial Results FY2020 Third Quarter Consolidated Financial Results November 12, 2020 Rakuten, Inc. Rakuten Growth Strategy 1 ➢ Vision 2 Mission Contribute to Society by Creating Value through Innovation and Entrepreneurship Global Innovation Leader Japan’s Leading Tech Company Transforming Global Telecom 4 ➢ History and Track Record 5 Profile Ecosystem Rakuten Capital Platform (MNO & Logistics etc) IRR +23%* (Sep 2020) Founded 1997 by 2 staff Internet Ride Sharing EC FinTech * Users (Asset Financing) with 13 Merchants Communication Ad Membership Telecom business Brand FinTech Healthcare Data * 2019 2019 (Affiliated Company) Digital Others Global Annual GTV Domestic EC Annual GMS content * Lyft and Rakuten Medical were transferred from Investment Business in Apr and Sep 2019 Services respectively, and treated as exited investments for return calculation Trillion yen 19 Trillion yen 3.7 Internet Services FinTech Contents & Communication Global Japan Registered Membership Membership (as of Jul/20) (as of Jul/20) (Ebates) 1.4 Billion 100 Million+ Branding 2019 2019 Non-GAAP Revenue Operating Income 1.3 Trillion yen 95 Billion yen Rakuten Growth and Innovation Track Record MNO entry Revenue exceeds JPY 1tn Global GTV JPY 19 tn “EARTH MALL with Rakuten" Open J League entry Annual Rakuten Ichiba JPY tn GMS exceeds JPY 1 tn "Rakuten General Insurance” acquisition Revenue 1.3 “One Delivery” announcement “Rakuten Point Card” issuance “Viber” acquisition “Rakuten Edy” acquisition “Ebates” acquisition Global GTV Englishnization “Rakuma” launched US/France EC acquisition Partnership with FC Barcelona Listed on TSE 1st Section Baseball entry “Rakuten Bank” “Viki” acquisition acquisition “Rakuten Securities” ”Kobo” and “Wuaki” acquisition “Taiwan Rakuten Ichiba” launched acquisition “Rakuten Life Insurance” “Rakuten point acquisition service” launched “Rakuten Ecosystem” announcement “Rakuten Travel” ”Rakuten Books” “Rakuten Card” issuance launched US LinkShare acquisition IPO on Foundation the OTC market “Rakuten Ichiba” launched * IFRS is applied from 2011. Related segments are summed up before 2013. "Others" includes Communication & Sports businesses, overseas businesses, minority investments, etc. * Mobile segment is added from 2019 due to disclosure segment change. 7 Growing New Businesses to Become No.1 # of Credit Card # of Internet bank # of MVNO holders (mm) accounts (mm) subscriptions (mm) * NO.1 NO.1 NO.1 9.1 2.3 2.6x 3.8x 11.3x 3.5 5.3 0.2 Jun/10 Jun/20 Jun/10 Jun/20 Dec/15 Dec/19 *No.1 in number of card holders 8 Domestic EC GMS vs Retail Sales Value Sales Retail vs EC GMS Domestic *Ministry *Ministry of Economy, Trade and Industry, Commercial sales value by type of business 2000 2000 2001 2001 2002 2002 2003 2003 2004 Value* Industry Sales Retail 2004 2005 2005 GMS EC Domestic *Ministry *Ministry of Economy, andTrade Industry, Statistical survey on dynamics of specified service industries: Credit Card 2006 2006 2007 2007 2008 2008 2005 2005 2009 2009 2006 2006 2010 2010 2011 2011 Industries OvertakingTraditional 2007 2007 Shopping GMS Card Credit 2012 2012 2008 2008 2013 2013 2009 Credit 2009 2014 2014 2015 2015 2010 2010 Rakuten 2016 2016 2011 2011 industry* Card 2017 2017 2012 2012 2018 2018 2019 2019 +31% 2013 2013 CAGR CAGR Card – 2014 2014 0.1% 2015 2015 2016 2016 2017 2017 *Japan Tourism Agency, Travel Agency Transaction 2018 2018 2005 2005 2006 2019 2019 2006 2007 2007 +74% CAGR CAGR CAGR Travel 2008 +7% 2008 Rakuten 2009 2009 2010 2010 2011 GMS Travel 2011 Industry* 2012 2012 2013 2013 Travel *Japanese Bankers Association, National bank deposit 2014 2014 2015 2015 2016 2016 2017 2017 2018 2018 2019 2019 +15% CAGR CAGR – 2.1% Rakuten All Bank Deposit Banks* Bank * *Ad expenditure of news paper,magazine, radio, TV Dentsu : 2019 Advertising Expenditures in Japan Traditional Media Ad Media Ad Traditional Rakuten Advertising Business Advertising Expenditure Ad Revenue Ad CAGR CAGR +19% CAGR CAGR +3% * +18% CAGR CAGR CAGR - 3% 9 A strong global workforce enabled by “Englishnization” ◼ Rakuten is a rare Japanese company that made English the official company language in all offices across the world ◼ ‘Englishnization’ makes it possible to acquire and retain global talent including the world’s top engineers Employee nationality ratio* Non-Japanese Japanese nationality nationality 23% 77% Number of employee / nationalities* 20,000+ Over 70 * As of December 31, 2019 10 ➢ Strength of Rakuten Ecosystem 11 Rakuten is a Membership Company Global Membership 1.4bn One Brand A single "Rakuten" brand for domestic and overseas services improves awareness and image of each service One ID - Membership More than 100 million users in Japan can use multiple services in the ecosystem with a single ID Rich data Enormous purchasing data of more than 100 million users connected to demographics, such as age and gender, and consumer interests. High Quality Data from 100M+ Rakuten Members 100M+ Rakuten Members High Quality Data Purchase Data Accurate Demographic Online and Offline Membership Attributes Purchasing Data / Geo Data in all areas Retail, Sports, Entertainment and FinTech 13 Rakuten Ecosystem Expansion from online to offline Sports/Golf Dining Beauty Department Salon Store Ad Gas Station Content Payment E-Commerce FinTech Convenience Fast Food Store Mobile ID Books /Music Online shopping DATA Supermarket POINT Moving Drugstore Membership Value of Rakuten Membership Value Q3/20 Target Membership Value JPY 7.8tn JPY 10tn MSV = Σ LTV – CAC LTV – CAC LTV LTV – CAC CAC Active Users … LTV – CAC Cross Use 15 Rakuten Everywhere - Online to Offline Expansion Capturing the Consumer’s JPY 352 Trillion* Wallet Share (JPY tn) * Internal estimation based on public information 16 ➢ Innovation 17 Rakuten Ecosystem Global Expansion Content Investments EC Advertising Health FinTech Care Mobile Become No.1 MNO in Japan with Low Pricing and High Quality Service Transition of Applications Quality User Experience Data Usage Exceeded 1.6 Million Applications since launch Equivalent to other MNOs Twice as much as Become No.1 Other mobile carriers User Experience Data Usage Rakuten (MNO) ■Other MNOs ■Rakuten （per user / month） Number of Applications Average and Target 99.1 99.0 85.1 83.9 82.9 82.4 2x (from September 30) (from April 8th) Exceeded Free supporter program 1.6 Million started Full launch 5 Thousand 20 Thousand Games Voice App Other MNOs 2019/10 2020/04 2020/11 4G Availability Rakuten Experience Experience Average Source：OPENSIGNAL (June 2020) Source: Ministry of Internal Affairs and Communications (March 2020) "Current status of mobile communication traffic in Japan" and Rakuten Mobile research Going Global with Rakuten Communications Platform Developed and Deployed World’s First Virtualized Network Targeting the ◼ Redefined how mobile telco networks are designed, built, operated $1tn+ Mobile ◼ Significant reduction in CAPEX and OPEX due to virtualization, automation and open architecture industry via Traditional Site Deployment Rakuten Virtualized Site Deployment Innovation Integrated RRH Power + Antenna Power Board Rectifier & Battery GC Board DU BBU Rectifier & Cable & BBU Cabinet Antenna Battery RRU Jumper Rectifier & Battery AAU * ～40% lower CAPEX ～30% lower OPEX Rakuten Ecosystem Global Expansion Content Investments EC Advertising Mobile FinTech Health Care Based on photoimmunotherapy, Rakuten Medical is developing the April 2019: Received Sakigake (fast Platform track) designation under the Sakigake Designation System Rakuten Medical is developing precision, cell-targeting investigational therapies May 2019: Obtained Japanese based on its Illuminox™ platform. Manufacturing/Marketing business license for pharmaceuticals and Drug Component medical devices. A targeting moiety March 2020: Applied for approval conjugated with one or more dyes leading to in Japan for head and neck cancer. selective cell surface (May: Received Conditional Early binding Approval System designation ) Device Component September 2020: Received Delivers the light that marketing approval to treat actives the drug unresectable locally advanced or recurrent head and neck cancer ➢ Growth Strategy 24 Q3/20 Highlights Global GTV Consolidated Revenue Domestic EC GMS Shopping EC GMS JPY 5.5 tn JPY 361.4 bn JPY 1.1 tn YoY +29.3 % +15.2% YoY +13.2% YoY +11.7% YoY Rakuten Card Rakuten Card Rakuten Securities Rakuten Bank Accounts Shopping GTV Holders Accounts JPY 2.9 tn 20.76 mm* 4.72 mm* 9.45 mm* +20.7% YoY *As of September 30, 2020 *As of September 30, 2020 *As of September 30, 2020 25 Evolving Powerful and Unique Rakuten Ecosystem Digital ID Transformation Brand Data Rewards Program Communication 26 Online e-Learning Content FinTech Seizing Digital Advertising Acceleration Data e-Commerce 5G Communications 27 Contribute to Society by Creating Value through Innovation and Entrepreneurship EC Core Businesses 29 Domestic E-Commerce GMS*1 （JPY bn） Jul-Aug Domestic EC +15.6% YoY *1 GMS comprises Ichiba, Travel GTV on checkout basis, Books, Golf, Ticket, Fashion, Dream businesses, Beauty, Delivery, Rakuten24 (Direct), Auto business, Rakuma, Rebates Rakuten Seiyu Netsuper, etc. *2 Eliminated internal transactions in some businesses. This has resulted in retroactive adjustments 30 Domestic E-Commerce Results* （JPY mm） excl. logistics-related investments/cost ＋12.0% YoY * Domestic E-Commerce = Ichiba, Travel, Books, Golf, Ticket, Rakuten Fashion, Dream businesses, Beauty, Delivery, Rakuten24 (Direct), Logistics, Auto business, Rakuma, Rebates, etc. 31 Q3/20 Domestic E-Commerce Operating Income Breakdown
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