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Rakuten completes RS Empowerment unit absorption

Rakuten Inc. said Oct. 1 that it completed the absorption of its investment arm, RS Empowerment Inc., into the company.

The internet service provider announced the absorption-type merger on July 26. The deal involves no issuance of new shares, no increase in shareholders' equity and no merger payment since RS Empowerment is already a wholly owned subsidiary.

The arrangement also has no impact to Rakuten's business name, head office, shareholders equity and fiscal year-end performance.