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      <registrantType>IM</registrantType>
      <liveTestFlag>LIVE</liveTestFlag>
      <filer>
        <issuerCredentials>
          <cik>0001294591</cik>
          <ccc>XXXXXXXX</ccc>
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      <flags>
        <overrideInternetFlag>false</overrideInternetFlag>
        <confirmingCopyFlag>false</confirmingCopyFlag>
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      <investmentCompanyType/>
      <periodOfReport>06/30/2025</periodOfReport>
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      <reportCalendarYear>2025</reportCalendarYear>
      <reportingPerson>
        <name>Rakuten Group, Inc.</name>
        <phoneNumber>815058173311</phoneNumber>
        <address>
          <com:street1>1-14-1 TAMAGAWA</com:street1>
          <com:city>SETAGAYA-KU, TOKYO</com:city>
          <com:stateOrCountry>M0</com:stateOrCountry>
          <com:zipCode>158-0094</com:zipCode>
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        <reportType>INSTITUTIONAL MANAGER NOTICE REPORT</reportType>
        <noticeExplanation>REPORTING PERSON DID NOT EXERCISE VOTING</noticeExplanation>
        <confidentialTreatment>N</confidentialTreatment>
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      <fileNumber>028-25580</fileNumber>
      <explanatoryInformation>
        <explanatoryChoice>N</explanatoryChoice>
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      <reportingPerson>Rakuten Group, Inc.</reportingPerson>
      <txSignature>Kenji Hirose</txSignature>
      <txPrintedSignature>Kenji Hirose</txPrintedSignature>
      <txTitle>Director and Group Executive Vice President</txTitle>
      <txAsOfDate>09/10/2025</txAsOfDate>
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