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RAKUTEN TO MOVE OFFICES OF GRP FIRMS CLOSER TO TOKYO HQ

Posted on: Mon, 23 Nov 2009 23:57:00 EST

Symbols: RKUNF, SURDF

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TOKYO, Nov 24, 2009 (AsiaPulse via COMTEX) --
SURDF | Quote | Chart | News | PowerRating -- Rakuten Inc. (TSE:4755) will
consolidate scattered group company offices to a location near
its Tokyo headquarters in a bid to improve business efficiency
and keep down rent expenses.

The virtual mall operator has signed a leasing agreement
with Sumitomo Realty & Development Co. (TSE:8830) for an
11-story building in Tokyo's Shinagawa Ward with a total floor
space of around 15,000 sq. meters. The building is about a
five-minute walk from the firm's headquarters in Rakuten
Tower.

On top of its group work force of more than 5,700, Rakuten
is slated to welcome 400 new hires in April. And with office
rents in a downslide, the company decided the timing would be
right to bring such group firms as marriage information
services provider O-net Inc. and systems developer eBank
Systems Corp. closer to its headquarters.

In the process, Rakuten also hopes to create a sense of
unity among group employees.

(Nikkei) rw

For full details on (RKUNF) RKUNF. (RKUNF) has Short Term PowerRatings at TradingMarkets. Details on (RKUNF) Short Term PowerRatings is available at This Link.

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