RAKUSSUSTAINABILIT YREPORT 2021

About Us

Va l u e C r e a t i o n

ESG

Data Section

C o m pa n y I n f o r m a t i o nContents
About Us

ESG

P2

Long-Term Vision
MISSION / VALUE

P19 Environmental Data

P3

Leadership Principles

P4

Message from the President

P21 Organizational Structure and Governance Policy

P8

Company History That Has Led to Value Creation

P20 Social Contribution in Businesses
P22 Policy on Remuneration for Officers /Attendance at Meetings of the Board of Directors andthe Audit & Supervisory Board
P23 Directors
P24 Audit & Supervisory Board Members

Value Cre ation
P10 Growth Trajectory
P11 Business Model and Performance of Cloud Business
P12 Features and Growth Strategy of Cloud Business
P13 Services:
Raku Raku Seisan / Raku Raku Meisai
P14 Services:
Raku Raku Hambai / Mail Dealer
P15 Services:
Hai Hai Mail / Services Being Nurtured to Contribute to
the Growth of the Next Generation
P16 Business Model and Performance of IT Outsourcing
Business
P17 Management Resources That Underpin Value Creation
and Growth
P18 Medium-Term Management Targets

D at a Se c tion
P25 Consolidated Statements of Income
P26 Consolidated Balance Sheets
P27 Consolidated Statements of Cash Flows
P28 Non-financial Data
P29 Changes in Capital Structure and Dividends

Compan y Inf or mation
P30 Company Outline & Group Structure

Editorial Policy

This report contains the business, financial, and
ESG information of RAKUS, and has been issued
for the purpose of improving corporate value by
engaging in dialogue with shareholders,investors, and other stakeholders about its
contents. Scope 2 Standard has been applied forCO2 emissions from energy consumption in thereport because in many cases the data centersused mainly by our Cloud business do not disclosethe environmental impacts and amount of power
consumption.

Websitehttps://www.rakus.co.jp/en/
IR Information
https://www.rakus.co.jp/en/irnews/[Contact]

ir@rakus.co.jp
Scope of Report
This report covers RAKUS Co., Ltd. and its
consolidated subsidiaries within andoutside Japan as well as some otheraffiliates. For environmental data, pleaserefer to the respective notes. The reportapplies to the period from April 2020 toMarch 2021.
* I t a l s o i n c l u d e s s o m e i n f o r m a t i o n o u t s i d e t h a tperiod.

Performance Forecasts
Forecasts of performance contained in thisreport are determined based on information
available at the time. Actual results may
differ due to a variety of factors.

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Va l u e C r e a t i o nLong-Term Vision

ESG

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C o m pa n y I n f o r m a t i o n

MISSION
We constantly help companies
grow their business byproviding IT services.

VALUE
VALUE 01

Fulfillment

VALUE 02

NurtureVALUE 03

Improvement

VALUE 04

Integrity

VALUE 05

Evolution

RAKUS has promoted digitalization of SMEs whichhave faced challenges of budget and digital literacy.
But digitalization is essential for not only SMEs but
also larger companies which use costly and inefficientlegacy systems. When all of the 50 million workers
in Japan benefit from the latest IT ser vices, Japan
will truly be a prosperous nation. We are determined
to contribute to business growth of companies
and well-being of their workers by helping thempromote digital transformation through our IT
ser vices.

Become a Company
Representing Japan

We fulfill and go beyond our customers’
expectations.
We nur ture human resources who have thecapability to yield tangible results.
We improve our activities day and night.
We have integrity with our stakeholders.
We capture signs of potential changes
and evolve proactively.
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Data Section

C o m pa n y I n f o r m a t i o n

Leadership Principles
Take ownership

Focus on results

Leaders consider themselves to be owners of the company. That is why they
always act with a sense of ownership. They prioritize matters that contributeto the company’s long-term sustained growth. A leader will speak out
forcefully if feeling that his or her boss or an executive is making adecision that will negatively impact the company’s growth.

Leaders are goal-oriented and do their very best to achieve their goals.
They take a firm stance, even when facing difficulties, and do notcompromise. Anticipating the unexpected, leaders always have analternative plan.

Communicate ideas with words

Aim for overall optimization
Leaders always think and act according to what is
important for the company’s overall growth. They focus
beyond the interests of their own department or team.
They actively collect information from otherdepartments to optimize activities.

Treat people with sincerity

Act to become‘a company representing Japan’
Our Leadership Principles are a code of conduct,

Leaders listen to what each and every individual
has to say with sincerity. They consider thingsfrom the other party’s perspective and not just fromtheir own or the company’s perspective. Leaders dotheir utmost to convince the other party and bringabout a desirable outcome for both parties.

highlighting the mindset that management of RAKUS

Continue learning and growing

create an unrivalled company. This gives us confidence

Leaders have an insatiable desire to acquire newknowledge and experience necessary to achieve theirown goals. They constantly update their knowledge
through exposure to the latest information. Leaders actively learn
from competitors and prime companies in other industries andutilize this for their own company’s growth.

should embrace. Leaders correctly understand theseprinciples, which enables them to judge and act with awell-balanced approach from multiple perspectives. Eachprinciple may appear obvious, but when put together

that RAKUS will become ‘a company representing Japan’in future.

Leaders can certainly communicate their own ideas withwords. One’s ideas can only be communicated withwords. If not well understood, leaders will repeatedly
communicate their ideas in a courteous way, until they
make themselves understood.

Tolerate failure
Leaders tolerate failures based on hypothesis put
forward by people around them. Even if having
the knowledge sometimes things cannot be
understood without actual experience. Leadersconsider failure to be a learning opportunity, andencourage others to learn from their failures.

Accept others’ views
Leaders sincerely accept others’ views even whendifferent from their own thinking. Leaders have ahealthy skepticism about themselves and objectively
consider what is genuinely correct. Leaders confesstheir own mistakes and constantly strive to move
forward in a better direction.

Start small and grow big

Do what needs to be done

Leaders actively try new things. There is no knowing if new
initiatives will actually work. So, leaders start test cases on asmall scale and with a small budget to verify their hypotheses.
They gradually increase the scale and budget while making
choices and ultimately grow the business.

Leaders always think about what should be done. Leaders
implement measures to solve issues for customers and theorganization and not what they would like to do.

Consider the cost-benefit performance
Leaders are authorized to execute budgets. All budgets need to be verified fortheir cost-benefit performance. When leaders execute budgets, they
demonstrate restraint because they are spending the company’s money.

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Data Section

C o m pa n y I n f o r m a t i o n

Message from the President
Long-Term Vision 

Become a company representing Japan

We are striving to ‘become a company representing Japan.’ In other words, overthe next 10 years or so, we aim to become a well-known company in Japan that is
ranked among the top 100 Tokyo Stock Exchange listed companies in terms ofmarket capitalization. We believe that in order to raise awareness in our company,
we must become a cloud service (SaaS) provider that has a huge workforce,boasts among the highest sales, and provides services to many people.
Growth Strategy We can achieve growth while making a profit by
growing and investing in new services.


To achieve our long-term vision, we will need to attain annual sales of at least 100
billion yen. Sales for the fiscal year ended March 2021 was 15.3 billion yen, so wewill need 6.5 times that amount. Our current core services—Raku Raku Seisan and
Raku Raku Meisai—are cloud services that help our corporate customers improve
efficiency of back-office operations through digitalization. I believe that improving
efficiency through back-office digitalization presents a big opportunity for us.

Takanori Nakamura

President and Representative Director
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Data Section

C o m pa n y I n f o r m a t i o n

Considering the speed of digitalization in Japan and the size of its economy, we
will need to provide multiple services with sales in the tens of billions of yen peryear to achieve our long-term vision. Therefore, we are working on launching
new services in addition to expanding our current core services. We also plan topursue mergers and acquisitions(M&As). The key process for nurturing aservice after launch is to get it to product market fit for a certain period of time
and then invest heavily in SG&A to dramatically increase sales. Normally acompany will go far into the red at this stage, but we invest the profits generated
from highly profitable services into nurturing and growing the new service. Thus,
we can grow while making a profit. And we strive to maintain sustainable growthby leveraging our expertise in launching and growing multiple cloud services.
Review of the Previous Medium-Term Management Targets 

Dramatic growth in not only performance,
but as an organization



The previous medium-term management targets were the one we set for
the first time. When setting the targets, we were somewhat concerned
whether we could achieve a higher sales growth rate than before and attainthe number of employees we needed to grow. But thanks to setting difficult
targets and taking on the challenge to achieve them, we were able to attaindramatic growth in not only performance, but also as an organization. We
exceeded the target 30% CAGR in sales and all income items.
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Va l u e C r e a t i o n

New Medium-Term Management Targets 

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Data Section

C o m pa n y I n f o r m a t i o n

Initiatives for the Fiscal Year Ending March 2022 

Aiming to achieve high sales growth by lengthening theperiod to five years to strengthen investment in growth

Focusing efforts on existing services by strengthening theorganization and aggressively investing in marketingThe new medium-term management targets are a key part in achieving ourAs the first year of the new medium-term management targets, the fiscal year

long-term vision. We exceeded our previous medium-term management

ending March 2022 is an important year for us. Our Cloud business is based on atargets, but felt the three-year period we set was too short for further growth.

subscription model, which makes it extremely difficult to recover from delays.

Moreover, the external environment has changed: Digitalization is encouraged

The key to achieving 30% CAGR in sales is how much we can expand andand a cloud-first approach has become a given when considering IT investment.

strengthen the organization in the first year. With the aim of gaining as many new

In order to make the most of this opportunity, we lengthened the period to fivecustomers as possible, we will focus efforts on Raku Raku Seisan and Raku Raku

years to strengthen investment in growth. Since the sales growth rate is

Meisai by increasing our workforce and aggressively investing in marketing. We

important for many investors, as well as for us, we are targeting CAGR in sales ofalso plan to make full preparations to strengthen investment in Raku Raku

25–30%. We set the target as a range rather than an absolute number due toHambai, which shows promise to contribute to growth in the next fiscal year anduncertainty over the impact of the COVID-19, but plan to narrow the range as

beyond.

time passes. In terms of profit, we set the target for net income for the fiscal
year ending March 2026 at an even 10 billion yen. And since we also plan to

ESG Strengthening ESG initiatives through dialogue
with investors

actively pursue M&As, we established net asset targets as well. When a company
becomes insolvent in Japan, it meets the criteria for delisting. This is an important
point to consider when actively pursuing M&As. However, the impact of M&As

has not been applied to these targets and we do not expect new services that

I think that whether we can achieve sustainable growth will depend on how muchare still being nurtured to contribute greatly. Continuing to expand ourwe can benefit society. The key will be whether we can contribute to ourorganization will be essential for achieving the new medium-term management

corporate customers and their workers by offering services that improvetargets, so we will also focus efforts on recruiting and developing talent.
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Va l u e C r e a t i o n

ESG

Data Section

C o m pa n y I n f o r m a t i o nbusiness efficiency, decrease work hours, and provide other benefits such associal problems in Japan such as excessive workloads and a workforce shortage

going paperless through digitalization. At the same time, as a member of society it

by improving efficiency through accelerating digitalization in the country. At

is also important to think about the environment. In the future, we will offset thethe same time, we also want to achieve sustainable growth by mitigating ourelectricity consumed when providing our services and achieve carbon neutrality.

environmental impact even further, enhancing governance, and engaging in

In pursuit of our goal of carbon neutrality, first we will gather information, thendialogue with investors. We look forward to your continued support.

we will set and disclose targets, including the timeline, to achieve them.
Recognizing that effectiveness is just as important as format in governance,
we will maintain an open and positive work environment while meeting theformat requirements of shareholders and investors. Diversity is also important
for achieving sustainable growth. This year a female executive was appointed forthe first time at one of our subsidiaries outside Japan, and we will keep increasing
the number of female executives and managers in order to incorporate a diverse
range of perspectives in our management team. We have only recently begun
instilling awareness of ESG initiatives company-wide, so we look forward toreceiving concrete advice from investors about their needs and expectations.
To Our Investors 

We strive to ‘become a company representing Japan’
and want to contribute to solving social problems.


We are striving to ‘become a company representing Japan’ in the next 10 years
or so. To achieve this goal, first and foremost we want to contribute to solving
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C o m pa n y I n f o r m a t i o nCompany History That Has Led to Value Creation
RAKUS was founded in November 2000 by four people: President

were two issues. The first was that to provide the service to SMEs where

Ta ka n o r i N a ka m u ra , D i re c to r Yo s h i f u m i M at s u s h i m a , A u d i t &needs were highest, RAKUS would need engineers who could engage inSupervisory Board Member Toshihiro Nojima, and RAKUS Light Cloudcontinuous development. This is because the most effective way to(a subsidiary of RAKUS) President Fumihiko Asano. Before RAKUS wasprovide the service was thought at the time to be with an application

established, these four were shareholders and the main members ofservice provider (ASP, now cloud). The second was that it would takemailing list service provider Infocast Co., Ltd. When a rival company

time to acquire enough customers to have a sufficient cash flow.

was acquired by an internet media giant and it became clear that the

So we launched an IT engineering school business to teach programing

competitive environment was becoming increasingly challenging,for a fee. Our aim with the school was to generate sales and scout

they sold off Infocast after receiving an offer from an e-commerce

talented students to gain engineers. Incidentally, engineers from thegiant and established RAKUS with the capital gained from the sale.

school have contributed greatly to the growth of RAKUS and thePresident Nakamura had two business concepts when RAKUS was

current head of development is a graduate as well. The school’s target

founded. One was a business to provide a system for managing ,g ro u p wa s m e m b e rs o f t h e wo r k fo rc e , s o d u r i n g t h e d ay o n t h esharing, and improving efficiency of large volumes of inquiry emails,

we e kd ays we d e ve l o p e d M a i l D e a l e r a n d d u r i n g t h e n i g ht a n dwhich was a challenge during his time at Infocast. The other was an IT

weekends we ran and taught at the school. We invested profits fromengineering school to accommodate the shortage of IT engineers.

the school to boost sales of Mail Dealer, contributing greatly to its

Although he saw a huge potential in the system (Mail Dealer), there

growth. As the economy improved and less people were willing to pay

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Va l u e C r e a t i o nmoney to learn programing, so we gradually converted the IT engineering

ESG

Data Section

C o m pa n y I n f o r m a t i o nThis has helped our entire company grow bigger and stronger, andschool into our current IT outsourcing business, in which we hire

created a virtuous cycle that enables us to enter even larger markets.

people with no engineering experience, train them to become IT

Continuously adding functions and making improvements to ourengineers, and dispatch them to companies. Today we operate twoservices has led to boosting customer satisfaction. And customers thatbusinesses: Cloud business and IT outsourcing business.

have used our services for a long time have reduced costs and working

In our Cloud business, after releasing Mail Dealer we continued
working on creating new services, some of which have been discontinued.

hours by improving operational efficiency. By investing the value generated
through this process in new areas, we realize value-creation chains.

The main cloud services we currently offer are Mail Dealer, Hai Hai Mail,
Raku Raku Hambai, Raku Raku Seisan, and Raku Raku Meisai. Our basic
policy is to focus more on competing in markets where we can succeed
than areas that have potential synergy with existing services, andgradually enter big markets. In line with this policy, we start a service
with the minimum functions and explore its growth potential byidentifying the market potential, customer needs, and the competition.
If it looks like we can succeed, we invest heavily in growth.
If we run into unforeseen challenges, such as the market being
smaller or competitors being stronger than expected, we quickly
withdraw to utilize the limited resources efficiently for company-wide
growth. At the same time, taking on challenges in a wide range of fields
has given us the expertise to create and grow cloud services in Japan,such as knowing what KPIs to track, when to invest, how to launch anorganization, and how to manage portfolios of multiple services.
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Data Section

C o m pa n y I n f o r m a t i o n

Growth Trajectory
Changes in Net Sales and Important Milestones(Millions of yen)March 2021

Changed to First Section of the Tokyo Stock Exchange

16,000July 2018

IT outsourcing business

14,000December 2015

May 2014

RAKUS Partners

Blaynmailconsolidated

in Vietnam

as subsidiary

January 2015

All shares of US subsidiary

8,000

March 2009

6,408

business was discontinued

IT engineering school business started

4,932

April 2011

Cloud business started

Subsidiary established

4,000

8,743

were soldIT engineering school

April 2001

11,608Exchange Mothers
February 2018

Subsidiary established10,000in the US

May 2002

IT outsourcing business started

2,000

0

was succeeded to

Listed on Tokyo Stock

12,0006,000

15,387

November 2000
RAKUS wasestablished
FY2001.3

FY2003.3

FY2005.3

FY2007.3

FY2009.3

FY2011.3

FY2013.3

FY2015.3

FY2017.3

FY2019.3

FY2021.3

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Data Section

C o m pa n y I n f o r m a t i o nBusiness Model and Performance of Cloud Business
Our Cloud business offers subscription services

Business Model of Cloud Businessto help companies improve operational

Monthly fee

efficiency through digitalization. The

Cloud services (SaaS) that contribute to improving operational efficiency

business model enables stable sales growth

Corporate
customerby accumulating new subscribers. Maintaining
a low churn rate is key in this model, so in

Cycle to sustainably expand subscription sales
New orders increase

Strengthening
investment in growth

Investments for increasing
customer satisfaction

Satisfaction increase Continuous
improvement of operational efficiency

Net sales increase

Low churn rate

92.9%

91.9%

91.7%

Segment income
Subscription sales ratio

834

FY2017.3

segments with low business failure rates, andhave established a pricing structure that makes

4,748

1,082

FY2018.3

8,952
6,725

1,261
FY2019.3

898

FY2020.3

Sales by Service 

91.5%
12,298

Sales

3,491

to improve customer satisfaction, target

it easy to continue using the service.

Changes in Sales, Segment Income, and Subscription Sales Ratio (Millions of yen)
93.8%

order to keep the rate low, we constantly work

3,568
FY2021.3(Millions of yen)

FY2017.3

FY2018.3

FY2019.3

FY2020.3

FY2021.3

Raku Raku Seisan

977

1,601

2,579

3,935

5,559

Mail Dealer

1,141

1,339

1,538

1,732

1,979

Email distribution services

657

939

1,410

1,573

1,964

Raku Raku Hambai

342

445

598

866

1,281

Raku Raku Meisai

69

149

326

552

1,177

Others

301

274

273

291

336

3,491

4,748

6,725

8,952

12,298

Total of Cloud business

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Data Section

C o m pa n y I n f o r m a t i o n

Features and Growth Strategy of Cloud Business
1

Offers subscription-based cloud services that
contribute to improving operational efficiency

2Best-of-breed focused

3

Aims for both profitability and high sales growthby managing a portfolio of multiple services

4

Strives for high sustainable sales growth byincreasing the number of services

Growth Cycle of Cloud Business
Incur

Strengthen
investment ingrowthDevelop
functions

Increasesales deficit

TurnConduct PMF*
activities

New service development

Improve profit
marginIncrease sales
Decrease
SG&A

profitExpandinvestment
capacity

Decline in costof sales ratio

Increase
profitDecline ingrowth rate

High growth phase

Maturity phase
Profit

Add new services and strengthen investment
in growth* PMF: Product Market Fit

Achieve sustainable growth by increasing services
RAKUS offers multiple best-of-breed services that improve efficiencyof specific operations, with the aim of taking the top share in eachservice. The biggest feature of our growth strategy is that we

Service Improvement Cycle

Customersimultaneously roll out different services during their growth phase. If a
service exhibits growth potential after we determine its product market
fit, we invest greatly in SG&A and let it go into the red. During the ‘high
growth phase,’ the gross profit margin improves as sales increase andReasonfor losing
orders
Improve and increase order and retention rates
Needs

Reason forcancellation
Needs

the service turns a profit. By investing the operating profit of services
that have reached the ‘maturity phase’ in new services, we generate
profit and achieve sustainable growth for the business overall. We willleverage the expertise we have gained from launching and growing
a large number of cloud services over many years. Thus, we will strive
to expand our service lineup by launching new services, and M&As.

Sales team

Cloud service
Feedback

Development
team

Feedback

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Data Section

C o m pa n y I n f o r m a t i o nServices

Dramatically reduces time and costs in settling expenses!
File an expense claim
from a computer or
smartphone

I can check it without having
to deal with errors in claims!

STEP1

With Raku Raku Seisan,
you can carry out a wide
range of accounting
processes including
making journal entries,
requesting payments,
and creatingbank transfer data.

Compliantwith rules

ApplicantNon-compliant
with rules

ApproverEliminates the time-consuming work of printing, sealing, and sending bills

Accounting personnel

Cumulative Number ofCompanies Using the Service

settlement problems

7,860

For many companies in Japan the expense
settlement process is still paper-based.

6,086Managing and confirming so many
documents takes up a considerable
amount of time for accounting personnel.

4,382

Raku Raku Seisan digitalizes the entire
process, from claims to journal entry,

3,027

reducing the time required to manage
documents. The system also prevents
errors and non-compliance with the rules

1,957

in claim procedures, thereby lightening
the workload for accounting personnel
and improving efficiency of expense
settlement tasks.

2017.32018.32019.32020.3

Select a file

CSV

STEP3

Bill data.csv

PDF

Automates issuance of awide range of
documentation

PDF
Uploaddocument data

Automatically blocks expense claims non-compliant with the rules!

Solves all your expense

STEP2

2021.3

Improves efficiency ofDownload from thewebsiteSends out inaccordancewithrecipients’
needs

Attach to thenotification email
Postal mailBills
Deliverystatements
Payment
statements
Receipts

Fax

Cumulative Number ofCompanies Using the Service

work of issuing bills
Accounting personnel in companies witha large number of clients must create andprint bills, seal them in envelopes, andsend them out in only a few days. Raku
Raku Meisai is easy to introduce because
it lets you choose the method of sending
bills—electronically, by post, or fax. Just
enter your billing data in Raku Raku Meisai
and it takes care of everything fromcreating and sending bills, and if you sendbills electronically, you can check whether
the electronic bills have been received.
Thereby Raku Raku Meisai lightens theworkload and improves efficiency foraccounting personnel.

2,240

1,190
629
185
2017.3363

2018.32019.32020.3

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Data Section

C o m pa n y I n f o r m a t i o nServices

Automates and streamlines operations without the need for spreadsheets•Register customer information •Create estimates•Process orders •Report projects •Manage sales•Process delivery

Sales
manager

Buyer

Don’t know which emails have been
responded to and which have not…

Customer master data

Complex sales management tasks

Sales rep

Improves operational efficiency through central management of emails
Response teamProvides at-a-glance response statusof who has responded to which inquiry

Employee A

Project DB

Improves
efficiency

Sales repwith databases
and workflows

Order DB
Inventory DB
Bill DB

Inventory management
Accountant
Bill processing
Procurement processing

Improves efficiency for all

Buyer

Cumulative Number ofCompanies Using the Service
1,946

improves efficiency of sales

739

Responded

Not responded

Access frombrowser

Not responded
Not responded

Customer

Employee B

Improves operational efficiency

Cumulative Number ofCompanies Using the Service

by centrally managing inquiries

6,754

Mail Dealer is a system that improves
by enabling teams to centrally manage
and share email inquiries among

1,163

d a t a b a s e s a n d wo r k f l o ws , i t ca n e a s i l y

Responded

Not responded

efficiency of customer support operations

1,486

management tasks carried out withspreadsheets and paper. C o m b i n i n g

Responded
Not responded

Not responded

Accountant

Raku Raku Hambai is a system thatcoding , and you can make improvements

Sales
manager

Not responded
Not responded

Not responded

sales management operationsb e c u s t o m i z e d w i t h o u t t h e n e e d forNot responded

Estimate DB

members. It eliminates errors such as

916

4,146

4,757

5,353

6,006

duplicate responses and lack of response,and enables smooth transition between

while you use it. It improves operationalteam members through creation ofefficiency by automating routine work

response logs.

and sharing information in real time.
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Data Section

C o m pa n y I n f o r m a t i o nServices
Services Being Nurtured to Contribute to the Growth of the Next Generation
Tool for improving efficiency of email marketing

An essential part of launching a new service is the product market fit

Calculates email delivery rate, open rate, and click-through rate after sending emails
Also measures conversion rate through integration with external services

SenderImproves
mailinglists

Cycle of delivery, measurement, and improvement
grows potential customers and contributes to sales

Email magazine (bulk email)

Send to everyone or by group

Segmented and scheduled emails

process. The process from selecting the suitable market to functional
development, marketing and sales, and strengthening customer support

Opened!

Recipienttakes about three to five years. Once product market fit is determined, thenext step is the growth phase where we invest heavily in SG&A.

Triggered emails and visit notifications

Chat Dealer is a chatbot that responds to inquiries.
Sends out the same contents in bulk

Sends individualized contents

Sends an email when your website
is visited

The chatbot answers frequently asked questions,improving efficiency of support operations andboosting user satisfaction.

Sends out the optimal emails foremail marketing
RAKUS offers three email distribution
services: Hai Hai Mail, Curumeru, andblastmail. Hai Hai Mail, our biggest seller, isa system that improves efficiency of email
marketing. You can send emails by group or
attribute, and it comes with analytical
functions that are essential for measuring
the effectiveness of email marketing suchas functions that track click-through andemail open rates, and display graphs ofreports. It also includes a function that lets
you use the open rate tracking function tosend additional emails. Hai Hai Mail
improves the efficiency of email marketingwith functions for measuring effectiveness.

Cumulative Number of Companies
Using the Service (Hai Hai Mail)
8,574

4,694

5,589

6,442

7,411

Raku Raku Roumu is a labor management system thatcollects information online from soon-to-be-employees thatis needed when they start employment, and automatically
prepares the forms required for enrolling in social insurance.
It consolidates employee information on the cloud andimproves efficiency of HR and labor affairs tasks.

Raku Raku Kintai is an attendance management
system that centrally manages employee attendance
information. In addition to managing paid leave andovertime, it can also flexibly accommodate needs
such as types of leave and employment specific to2017.32018.32019.32020.32021.3individual companies, thereby improving efficiency ofattendance management operations.

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Va l u e C r e a t i o n

ESG

Data Section

C o m pa n y I n f o r m a t i o nBusiness Model and Performance of IT Outsourcing Business
Sales and Segment Income

Making it easy for everyone involved in IT
Unlike registration-type personnel dispatching,personnel hired as employees of RAKUS Group are dispatched.

Sales

3,089

Segment income
Assign tocustomer’s
workplace

Hiringinexperienced
personnel

Training

Leverage expertise gained from our
IT engineering school business(Millions of yen)

Dispatching
Java
InfrastructureM achine learning,etc.

We hire and train people to be IT engineers, andprovide recruitment ser vices.

Leveraging the expertise gained from the IT engineering school we previously
operated, we select people without engineering experience who show potential to
become engineers from applicants wishing to change careers. We train them for about
three months to turn them into IT engineers who are proficient in Java programing,
infrastructure, machine learning, and quality assurance, and dispatch them to corporate
customers. We also provide recruitment services, serving as a career hub for IT
engineers and contributing to society by helping accommodate the shortage of them.

1,441

2,655
1,660

2,017

140

158

206

276

330

FY2017.3

FY2018.3

FY2019.3

FY2020.3

FY2021.3

Features of RAKUS Partners’ Engineer Dispatching Service
STRENGTH

1

STRENGTH

2

STRENGTH

3

Top talentU nlike registration-type personnel dispatching, personnel hired as employees of
RAKUS Partners are dispatched.
Since they are employees and not simply registered members, attendance is stable.

First class trainingWe provide training in the specialized fields of Java, infrastructure, machinelearning, and quality assurance.
F ull-time instructors provide fully practical training to ensure the engineers
perform successfully at the customer ’s workplace.

Full-time support
The engineers we dispatch are selected from full-time engineering staff.
We interview the customer on how the IT engineers are doing and provide follow-up.

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Data Section

C o m pa n y I n f o r m a t i o nManagement Resources That Underpin Value Creation and Growth

Human resources

Technology

Customer basePartners

Finance

Retaining talented employees

Staying on top of the latest

Addressing customer needs gives

System partners and sales

Maintaining and expanding

and expanding the organization
is essential for achieving
sustainable growth.

technological trends andtirelessly incorporating
needed technology leads tosustainable growth.

services competitive advantage,
so expanding the customer baseis an important part of ourstrategy.

agents play a major role inaccelerating growth.

a stable and solid financialbase is key for achieving
sustainable growth.

Strengths

Many employees are midcareer hires with diverse
experiences and specializations,and continuously increasing thenumber of employees is asource of our capability to grow.

We have the technologicalcapabilities to provide
services that are stable, lowcost, and secure.

We have a large customer basecompared to competitors.
This enables us to identify
detailed customer needs,
which contributes to theenhancement of our services.

Our partner base continues toincrease as we grow, as does
our alliances with large
companies that have highname recognition.

We have continuously turneda profit since our second fiscal
year in business. This hasgrown our equity capital,
enabling us to continue tomake large investments.

Security and system stability
are the most important things
to ensure customers choose
us and can use our services
with peace of mind.

Digitalization in the market
where we offer our services isstill behind. This huge untapped
segment presents big oppor­
tunities but also poses the riskof increased competition.

It is important to retain thecompanies that choose us aspartners, so we will strive tostrengthen collaborationand provide services that
contribute to their growth.

We maintain a stable financialbase and control risks.

Risks and opportunities

Many companies arecompeting over diverse andtalented employees, so
retaining such employees
poses a risk, and our hiring
power could be improved.

Challenges

Boosting awareness in ourcompany name is one of thebiggest challenges in acquiring
talent. Part of the problem is thatthe names of our services andname of the company differs.

Maintaining strong security is
not easy. We must constantly
acquire the latest informationand technology, andcontinuously invest.

Using our customer base to
cross-sell will be a big
challenge in the future.

Increasing and utilizing ourpartners to achieve further
growth will continue to bea major challenge.

Using our financial leverage
will be a big challenge in the
future.

Importance ofmanagement resource

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Va l u e C r e a t i o n

ESG

Data Section

C o m pa n y I n f o r m a t i o n

Medium-Term Management Targets
1

Five-year sales CAGR 25%–30%2

Net income for FY2026.3: 10 billion yen or more

3

Net assets as of 2026.3: 20 billion yen or more

Changes in Net Sales and Its Targets(Millions of yen)

46,960–57,134

Our target is to achieve 25–30% sales CAGR. We invest actively
over the first 4 years to meet the sales target. Then, we aim to

C AGR
25% – 30%

achieve over 10 billion yen of net income in the final year by
pursuing operational efficiency.
Note:The target will be revised if we acquire businesses.

Effects we would like to bring about by
strengthening and expanding the balance sheet
Reduction in borrowing costs by enhancing our creditworthiness
Mitigation of the impact of impairment generated by large or
15,387

multiple business acquisitions
Note:Increase in the amount of goodwill we can handle

4,077

Our policy is to actively pursue M&A opportunities in thecloud (SaaS) business domain to contribute to our sales

FY2016.3

4,932

FY2017.3

6,408

FY2018.3

8,743

FY2019.3

11,608FY2020.3

Strengthen investment
in growth
FY2021.3

FY2026.3

and profit in the mid- and long-term.

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Data Section

C o m pa n y I n f o r m a t i o n

Environmental Data
Total Energy Consumption and CO2 Emissions
Total energy consumption (GJ)

Paper Usage

CO2 emissions (tons per one million yen in net sales)

4,000

0.04

0.040

0.039

8,000

0.035

3,000

7,103
2,892

0.030

2,868

0.03

6,016

6,000

2,375
2,000

(Kg)

4,703
0.022

1,799

0.02

4,000

0.01

2,000

0

0

3,550

3,406

1,396
1,000

0

FY2017.3

FY2018.3

FY2019.3

FY2020.3

FY2021.3

FY2017.3

FY2018.3

FY2019.3

FY2020.3

FY2021.3

Goals
Because RAKUS is an IT service provider, its CO 2 emissions are relatively

disclose Scope 2 emissions. In the future we will ascertain thelow. Although we use electricity to provide our services, the data

circumstances and set targets while incorporating the feedback andcenters we are contracted with do not disclose electricity consumption

advice of investors, and consider measures to achieve carbon neutrality.

and renewable energy use rates in Japan. For this reason, at present we

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ESG

Data Section

C o m pa n y I n f o r m a t i o nSocial Contribution in Businesses
Example with 100 employees (per year)

Total: 1,191 hours

Total: 271 hours

77

237 hours

694 hours%
improvementin efficiency

Paper-based expense settlement

Raku Raku Seisan

261 hours

229 hours

8 hours
35 hours■Claim filing ■Approval ■Accounting

Example with 500 documents per month
Assumes 1.5 minutes per document

Total: 750 min.

250 min.

Total: 30 min.

96

250 min.

%improvementin efficiency

Sending paper documents

Raku Raku Meisai

250 min.

■Printing out ■Placing seals ■Sealing envelopes■System operations

RAKUS operates its Cloud business and IT outsourcing business in line withits mission: “We constantly help companies grow their business byproviding IT services.” Our Cloud business provides several services that
contribute to improving the efficiency of companies’ back-office
operations, thus improving their overall operational efficiency.
Faced with an expected workforce shortage due to a declining birthrate
and increasing aged population, Japan cannot afford not to improve
efficiency through digitalization. However, because the country is behindin training workers in the digital field and has not aggressively invested in
IT, many processes are still carried out with inefficient manual methods.
SMEs make up a large part of companies and the workforce. Suchcompanies have had particular difficulty acquiring staff and tend to bebehind in digitalization, making them prone to long working hours. And
there are even many major corporations that have shown little progress in
improving efficiency through digitalizing back-office operations. Lacking
the ability to allocate enough manpower to growth-driving R&D and sales
operations is a factor in low sales growth rates and profit margins.
In this environment, customers that use our cloud services have
improved operational efficiency by digitalizing previously paper-based
processes such as settling expenses and issuing bills. This enables them tostrengthen investments for growth and revise staff allocation, andcontributes to improving their performance as well as the health andwell-being of the people who work there.
Improving efficiency through digitalization in Japan requires a huge
workforce of people who are well versed in the digital field. Our IT
outsourcing business is contributing to the advancement of society byadding to this workforce through training IT engineers and dispatchingthem to companies.
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Data Section

C o m pa n y I n f o r m a t i o n

Organizational Structure and Governance Policy
The RAKUS Group’s basic philosophy of corporate governance is tohave a lasting organizational structure that enables accurate decisions
to be made in response to changes in the social and economic
Basic Corporate Governance System and Reasons for Adoption
Over view of Corporate Governance System
RAKUS is a company with an Audit & Super visory Board. The Audit & Super visory
Board Members attend important meetings such as the Board of Directors meetings,
and monitor decision-making processes and the performance of executive tasks froman independent standpoint. The Board of Directors is chaired by President and Representative
Director Takanori Nakamura. It holds meetings at least once per month as a rule, where
it formulates corporate management policies and plans, confirms the status ofexecutive tasks, deliberates and decides legal matters and important corporate
management-related matters, and monitors the performance of each Director ’s duties.
The Internal Audit DIvision conducts internal audits of our divisions and subsidiaries
on matters such as legal compliance and operational efficiency, and offers concrete
advice and suggestions on making improvements.
Reasons for Adopting Corporate Governance System
We adopted a corporate governance system that we believed was the best system forachieving our company ’s purpose at the time. Therefore, we will revise the system as
needed in response to changes in the social and legal environment.
RAKUS ensures that it is run soundly and transparently by ensuring the proper
functioning of the monitoring and oversight functions of corporate management by the
Audit & Supervisory Board Members, which includes Outside Audit & Supervisory Board
Members. We also appoint Outside Directors to improve the monitoring and oversight ofdecision of business execution and corporate management by the Board of Directors.
We have decided to adopt the company with the Audit & Super visory Board because
we determine that the most appropriate governance system is one based onmonitoring and oversight by Outside Directors that are independent from executives,
the Audit & Supervisory Board Members, and the Audit & Supervisory Board.

environment. We believe that making accurate decisions withefficiency, justice, transparency, fairness, and promptness benefit all
stakeholders including shareholders, business partners, and employees.

Percentage of Outside Directors

2
5

40%

Percentage of Outside Audit &Supervisory Board Members

2
3

66%

Organizational Structure
General Meeting of Shareholders
Appoint Dismiss

Appoint Dismiss

Board of Directors
Five Directors(two of which are
Outside Directors)

SelectRemoveOversee

Audit

ReportRepresentative Director

ReportInternal Audit Division

Audit & Supervisory Board

Three Audit & Supervisory
Board Members(two of which are Outside Members)

Appoint Dismiss

Collaborate

Instruct
ReportOverseeControl

Business Execution DivisionInternal audit

Audit

Advise/guide

Accounting Auditor
Attorneys, etc.

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Policy on Remuneration for Officers

Data Section

Attendance at Meetings of the Board of
Directors and the Audit & Supervisory Board

RAKUS prioritizes aligning the interests of shareholders and investors

Attendance at Meetingsof the Board of Directors

and those of the top management. The current top management team,
not including outside officers, are the major shareholders of the company.
Thanks to the growth of our businesses, the continuous increase ofdividend income and the improvement of corporate value have led to anincrease in the value of shares held. This means that the responsibility
and results of management are linked to assets held. For this reason, we
believe that creating a big incentive plan is not needed for the time being.

C o m pa n y I n f o r m a t i o n

Representative Director

30/30 meetings

Director

30/30 meetings

Director—*

Takanori Nakamura
Yoshifumi Matsushima
Shinichiro Motomatsu
Outside Director

Monetary remuneration is within the scope of about 3.5 times more than

Kenji Ogita

30/30 meetings

the average income of employees, which serves to boost motivation to

Outside Director

24/24 meetings*

improve corporate value while at the same time maintaining a level that
does not produce too wide of a gap with employees.

Category

Total remuneration by type

Basic
remuneration

Full-time Audit &Supervisory Board Member

Toshihiro Nojima(Thousands of yen, unless otherwise stated)
Total
remuneration

Yukihiko Kunimoto

Non-monetary
remuneration, etc.

No. of eligible
officers(Persons)

Directors(Of which Outside Directors)

67,813(3,150)60,735(3,150)

7,078
(—)

5
(2)

Audit & Supervisory
Board Members(Of which Outside
Audit & Supervisory
Board Members)

8,400(3,600)8,400(3,600)

—
(—)

3
(2)

Total
(Of which outside officers)

76,213(6,750)69,135(6,750)

7,078
(—)

8
(4)

Outside Audit &Supervisory Board Member

Koji Matsuoka

Outside Audit &Supervisory Board Member

Natsuro Abe

Attendance at Meetingsof the Audit &Supervisory Board

30/30 meetings

14/14 meetings

30/30 meetings

14/14 meetings

30/30 meetings

14/14 meetings*Director Shinichiro Motomatsu was appointed as a Director after the General Meeting of Shareholders heldin June 2021, so the attendance for the previous fiscal year is not shown. Outside Director Yukihiko
Kunimoto was appointed as a Director after the General Meeting of Shareholders held in June 2020, so his
attendance after his appointment is shown.

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ESG

Data Section

C o m pa n y I n f o r m a t i o n

Directors
President and Representative Director

Takanori Nakamura
April 1996
September 1997
January 2000
November 2000

Outside Director

Born January 27, 1973

Shares held: 62,256,700

Joined NIPPON TELEGRAPH AND TELEPHONE CORPORATION
Established Digital Network Service GSK
Established Infocast Co., Ltd.; Director

Established RAKUS; President and Representative Director (current position)[Important concurrent positions]
Chairman, RAKUS Vietnam Co., Ltd.
Director, RAKUS Light Cloud Co., Ltd.
Director, RAKUS Partners Co., Ltd.

Born July 6, 1958

Shares held: 64,000

March 1986
Joined Toyo Information Systems Co., Ltd. (currently TIS Inc.)
June 2005
Joined Digital Garage, Inc.
June 2005
Director, Ibex&rims Inc.
July 2005
Director, DG Incubation, Inc.
September 2005 Representative Director, DG & Partners, Inc.
March 2007
Director, TransWARE CO., LTD. (currently QUALITIA CO., LTD.)
February 2015 Outside Director, RAKUS (current position)
July 2020
Representative Director, Orange Company Inc. (current position)
August 2020
Representative Partner, Antelope LLC (current position)
Reasons for selection

Director

Yoshifumi Matsushima

Born August 17, 1973

Shares held: 9,340,000

April 1998
Joined Toppan Co., Ltd.
January 2000
Established Infocast Co., Ltd.; Director
November 2000 Established RAKUS; Director (current position)

Shinichiro Motomatsu
Joined RAKUS
Executive Officer
Director (current position)

Born March 3, 1974

Kenji Ogita was selected to be an Outside Director due to his experience serving as Director atother companies, and his ability to use his broad insight to give feedback and advice, oversee
from a neutral and objective standpoint, and make holistic decisions based on his unique career.

Outside Director

Yukihiko Kunimoto

Director

April 2001
July 2012
June 2021

Kenji Ogita

Shares held: 8,800,000

April 1984

January 2006
June 2020

Born August 21, 1960

Shares held: 0

Joined Japan Associated Finance Co., Ltd. (currently JAFCO Group Co., Ltd.)
Established Independents Co., Ltd. (currently Kips Co., Ltd.);
Representative Director (current position)
Outside Director, RAKUS (current position)

Reasons for selection

Yukihiko Kunimoto was selected to be an Outside Director due to his ability to oversee the managementof RAKUS and give advice on a wide range of management issues from an out-of-the-box
perspective based on his extensive experience and keen insight as the head of another company.
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Data Section

C o m pa n y I n f o r m a t i o n

Audit & Supervisory Board Members
Full-time Audit & Supervisory Board Member

Toshihiro Nojima

Outside Audit & Supervisory Board Member

Born June 29, 1973

April 1997

Shares held: 2,800,000

Joined The Yasuda Fire and Marine Insurance Co., Ltd.
(currently Sompo Japan Partners Inc.)
January 2000
Established Infocast Co., Ltd.; Director
November 2000 Established RAKUS; Director
June 2011
Full-time Audit & Supervisory Board Member (current position)[Important concurrent positions]Auditor, RAKUS Vietnam Co., Ltd.
Audit & Supervisory Board Member, RAKUS Partners Co., Ltd.
Audit & Supervisory Board Member, mj Capital Inc.

Koji Matsuoka

Born August 5, 1974

Shares held: 520,000

April 1997
Joined Asahi & Co. (currently KPMG AZSA LLC)
November 2000 Outside Audit & Supervisory Board Member, RAKUS (current position)
March 2005
Representative, Matsuoka CPA Office (current position)[Important concurrent positions]
Outside Director, ROCKWAVE Co., Ltd.
Outside Audit & Supervisory Board Member, Asahi Life Science Co., Ltd.
Outside Audit & Supervisory Board Member, Aisawa Construction Ltd.
Outside Audit & Supervisory Board Member, Adachi Co., Ltd.
Audit & Supervisory Board Member, Dream Factory Inc.
Director and Audit & Supervisory Committee Member, HouseFreedom Co., Ltd.
Reasons for selection

A certified public accountant, Koji Matsuoka was selected to be an Outside Audit & Supervisory
Board Member due to his considerable capabilities and experience in overseeing the performanceof Directors’ duties and ensuring transparency, efficiency, and impartiality in decision making.
Outside Audit & Supervisory Board Member

Natsuro Abe
May 1998
August 2002
October 2004
April 2009
June 2014

Born July 19, 1975

Shares held: 64,000

Joined Andersen Consulting Ltd. (currently Accenture Japan Ltd.)
Joined Y’s table corporation
Director, Yume no Machi Souzou Iinkai Co., Ltd. (currently Demae-can Co., Ltd.)
Representative Director, Y’s & partners Co., Ltd. (current position)
Outside Audit & Supervisory Board Member, RAKUS (current position)

Reasons for selection

Natsuro Abe was selected to be an Outside Audit & Supervisory Board Member
due to his experience serving as Director at another company, and his ability to use
his broad insight to give feedback and advice, oversee from a neutral and objective
standpoint, and make holistic decisions based on his unique career.
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ESG

Data Section

C o m pa n y I n f o r m a t i o n

Consolidated Statements of Income(Millions of yen)

FY2017.3

FY2018.3

FY2019.3

FY2020.3

FY2021.3

Net sales

4,932

6,408

8,743

11,60815,387

Cost of sales

1,820

2,285

2,989

3,945

5,030

Gross profit

3,112

4,123

5,753

7,662

10,357

63.1%

64.3%

65.8%

66.0%

67.3%

2,136

2,882

4,285

6,487

6,459

Operating profit

975

1,241

1,468

1,174

3,898

OP margin

19.8%

19.4%

16.8%

10.1%

25.3%

52

0

0

(8)

205

EBITDA*

1,158

1,357

1,809

1,561

4,346

Profit before income taxes

1,025

1,247

1,474

1,169

4,087

293

372

455

369

1,150

28.6%

29.9%

30.9%

31.6%

28.1%

Profit attributable to owners of parent

731

874

1,018

799

2,936

Earnings per share

4.04 yen

4.83 yen

5.62 yen

4.41 yen

16.20 yen

ROE

28.3%

26.4%

24.5%

16.3%

45.1%

Equity ratio

76.5%

70.9%

74.8%

73.8%

68.4%

GP margin
Selling, general and administrative expenses

Extraordinary income/losses

Total income taxes
Tax rate*EBITDA = Profit before income taxes + Extraordinary income/losses + Depreciation + Amortization of goodwill + Interest expenses

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Data Section

C o m pa n y I n f o r m a t i o n

Consolidated Balance Sheets(Millions of yen)

FY2017.3

FY2018.3

FY2019.3

FY2020.3

FY2021.3

3,186

2,802

3,668

4,413

8,580

135

201

321

619

730

Goodwill

—

1,283

1,119

955

791

Customer relationship

—

355

282

208

134

Software

26

21

36

49

38

Total intangible assets

26

1,659

1,438

1,213

964

Total investments and other assets

472

566

714

793

1,195

Total non-current assets

634

2,427

2,474

2,625

2,891

3,821

5,229

6,142

7,039

11,471

887

1,418

1,436

1,773

3,606

10

104

113

72

22

897

1,522

1,549

1,846

3,629

2,922

3,709

4,596

5,196

7,842

Total net assets

2,923

3,706

4,593

5,192

7,842

Total liabilities and net assets

3,821

5,229

6,142

7,039

11,471

AssetsTotal current assets
Total property, plant and equipment

Total assets
Liabilities
Total current liabilities
Total non-current liabilities
Total liabilities
Net assets
Total shareholders’ equity

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Data Section

C o m pa n y I n f o r m a t i o n

Consolidated Statements of Cash Flows(Millions of yen)

FY2017.3

FY2018.3

FY2019.3

FY2020.3

FY2021.3

1,025

1,247

1,474

1,169

4,087

Depreciation

81

82

171

219

301

Amortization of goodwill

-

27

163

163

163

Decrease (increase) in trade receivables

(159)

(206)

(261)

(348)

(552)

Increase (decrease) in accounts payable — other

109

69

32

47

314

Increase (decrease) in accrued expenses

(39)

55

94

115

81

Income taxes paid

(394)

(316)

(572)

(458)

(464)

Net cash provided by (used in) operating activities

579

1,042

1,120

939

4,271

Net cash provided by (used in) investing activities(290)(1,523)

(463)

(481)

(432)

Dividends paid

(54)

(88)

(131)

(199)

(289)

Net cash provided by (used in) financing activities

(19)

(113)

(141)

(195)

(303)

Cash and cash equivalents at beginning of period

2,047

2,316

1,719

2,236

2,496

Cash and cash equivalents at end of period

2,316

1,719

2,236

2,496

6,035

289

(480)

656

458

3,839

Profit before income taxes

Free cash flow

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About us

Va l u e C r e a t i o n

ESG

Data Section

C o m pa n y I n f o r m a t i o n

Non-financial Data
(Persons)

FY2017.3

FY2018.3

FY2019.3

FY2020.3

FY2021.3

Number of employees

452

561

747

1,044

1,230

Percentage of female employees

23.7%

25.0%

26.0%

26.0%

27.7%

Cloud business

218

280

381

538

706

IT outsourcing business

217

254

327

455

459

Administrative Division

17

27

39

51

65

Overtime Working Hours
20:23

17:47

16:17

Percentage of Paid Leave Taken
81.7%

81.4%

80.0%

FY2017.3

FY2018.3

FY2019.3

FY2018.3

FY2019.3

FY2020.3

82.0%

FY2021.3

Turnover Rate
15.9%
15:01

14:14

13.3%
8.5%

FY2017.3

86.3%

FY2020.3

FY2021.3

FY2017.3

FY2018.3

FY2019.3

7.8%

FY2020.3

8.9%

FY2021.3

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About us

Va l u e C r e a t i o n

ESG

Data Section

C o m pa n y I n f o r m a t i o n

Changes in Capital Structure and Dividends
Changes in Capital Structure(%)

Fixed shares

Employee Shareholding Association

Individuals or other companies

Domestic institutional investors

Foreign institutional investors

Other financial institutions

2.14
2.48
4.80

0.55

5.23
9.53

3.92

1.39

7.20

14.15

8.77
27.63
27.22

27.47

2.52
2.35

60.43

55.12

2.20

4.97

0.76
18.59

Top Ten Major Shareholders

Takanori Nakamura

62,256,700

34.4%

Hideyuki Inoue

9,040,000

5.0%

Fumihiko Asano

8,000,000

4.4%

4,394,100

2.4%

Noritsugu Ogawa

4,080,800

2.3%

Toshihiro Nojima

2,800,000

1.5%

Yoshifumi Matsushima

FY2018.3

9,340,000

Shinichiro Motomatsu

8,800,000

GOLDMAN SACHS INTERNATIONAL
3.11(Standing proxy: Goldman Sachs Japan Co., Ltd.)RAKUS Employee Shareholding Association
27.41

1.88

28.50

3,326,300

Custody Bank of Japan, Ltd. (Trust Account)

2,497,300

1.83

Changes in Dividends

50.21

FY2019.3

FY2020.3

4.9%

1.8%

1.4%

(Yen)

1.6
50.43

5.2%

*Shareholding ratio is calculated after deducting treasury shares (1,490 shares).

47.19

FY2021.3

1.75

1.1

0.075
FY2017.3

No. of Shares Shareholding
Held
Ratio*

Shareholder NameFY2012.3

0.15

0.153

FY2013.3

FY2014.3

0.218
FY2015.3

0.3
FY2016.3

0.487

FY2017.3

0.725

FY2018.3

FY2019.3

FY2020.3

FY2021.3

Note:Figures after retroactively adjusting to reflect stock split

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About us

Va l u e C r e a t i o n

ESG

Data Section

C o m pa n y I n f o r m a t i o nCompany Outline & Group Structure
Company Name

RAKUS Co., Ltd.

Foundation

November 1, 2000

Capital378,378,000 yen

Fiscal Year

From April 1 of each year to March 31 of the following year

Group Companies

RAKUS Light Cloud Co., Ltd.
RAKUS Partners Co., Ltd.

Business

Shareholding
Ratio

Cloud-based software service provider

100%

IT engineer dispatching
IT engineer career change support

100%

Consolidated: 1,230

RAKUS Mirai Co., Ltd.

Production and sales of food products
and operation of restaurants

100%

as of the end of March 2021

Non-consolidated: 714

RAKUS Vietnam Co., Ltd.

Cloud service development

100%

Stock ListingFirst Section of the Tokyo Stock Exchange

Securities Code

3923

Shareholder Registry
Administrator

Mitsubishi UFJ Trust and Banking Corporation

Auditing Firm

KPMG AZSA LLC

Number of
Employees

RAKUS Co., Ltd. Headquarters
RAKUS Light Cloud Co., Ltd.

Link Square Shinjuku, 5-27-5 Sendagaya, Shibuya-ku, Tokyo

RAKUS Mirai Co., Ltd.
RAKUS Co., Ltd. Osaka Head Office

Umeda gatetower, 1-9, Tsurunocho, Kita-ku, Osaka-shi, Osaka

RAKUS Co., Ltd. Nagoya Sales Office

Taijuseimei Nagoya Building, 1-4-6 Nishiki, Naka-ku, Nagoya-shi, Aichi

RAKUS Co., Ltd. Fukuoka Sales OfficeTenjin Front Square, 2-1-10 Maizuru, Chuo-ku, Fukuoka-shi, Fukuoka

RAKUS Partners Co., Ltd.

TOKYU REIT Shinjuku Building, 4-3-25 Shinjuku, Shinjuku-ku, Tokyo

RAKUS Vietnam Co., Ltd.

Bldg. QTSC 9, 4th Floor, Street 3, Quang Trung Software City, Tan Chanh Hiep Ward, District 12, Hochiminh City, Vietnam.

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