ROME (dpa-AFX) - Rakuten Group, Inc. (4755.T), a Japanese technology and e-commerce company, on Thursday announced a multi-year global partnership with Scuderia Ferrari HP, effective January 1, 2027.
Under the agreement, Rakuten will become a Team Partner of Scuderia Ferrari HP in the Telecommunications and E-commerce categories, marking the first time a Japanese company has partnered with the motorsports team in these categories.
The partnership will explore opportunities across the Rakuten Ecosystem, including e-commerce and Rakuten Symphony, to expand the company's global footprint and create new business connections through Formula 1.
Rakuten will also leverage Scuderia Ferrari HP's international platform to showcase its technology capabilities and explore cross-industry innovation. Its branding will appear on Ferrari race cars, driver apparel and the team environment.
'This partnership provides a dynamic global stage to bring Rakuten's technology capabilities, digital ecosystem and unique membership experiences directly to millions of passionate Ferrari and Formula 1 fans around the world,' said Mickey Mikitani, Chairman and CEO of Rakuten Group.
'Rakuten has built an exceptional digital ecosystem and brings technological capabilities that can open up new ways for us to create value beyond the racetrack,' commented Lorenzo Giorgetti, Chief Racing Revenue Officer of Ferrari.
In Tokyo, Rakuten shares closed nearly flat at JPY 714.30 on Thursday.
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