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☆ Japanese tech giant Rakuten plans to launch proprietary AI model
▼ + stars: | 2023-12-11 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +2 min

Hiroshi "Mickey" Mikitani said the company is working on its own large language model, or LLM. Japan's Rakuten plans to launch its own proprietary artificial intelligence language model, its CEO told CNBC in an interview that aired Monday. The company plans to use the AI model internally to improve operational efficiency and marketing by 20%, Mikitani said. Telecommunications group NTT announced this month that its proprietary LLM will be available in March. Clarification: This story has been updated to clarify that a spokesperson from Rakuten says there is no timeline for the launch of its proprietary AI model.

Persons: Rakuten, Hiroshi, Mickey, Mikitani, Japan's Rakuten, SoftBank Organizations: Mobile, CNBC, Microsoft, Google, U.S ., Baidu, Telecommunications, NTT Locations: U.S, China, Rakuten

☆ AT&T chooses Ericsson for new U.S telecom network, will drop Nokia
▼ + stars: | 2023-12-04 | by ( ) www.cnbc.com time to read: +2 min

New networks by Dish and Japan's Rakuten use Open RAN. "All of the new equipment that we are going to be putting out will be Open RAN capable," Chris Sambar, president of AT&T Network, told Reuters. Winning the Open RAN deal will make Ericsson the largest supplier to AT&T as it slowly takes over Nokia's share, the company said. AT&T will still have contracts which other Open RAN vendors outside this deal. AT&T expects fully integrated Open RAN sites operating in coordination with Ericsson and Fujitsu, starting in 2024.

Persons: Chris Sambar, Sambar, You've Organizations: Ericsson, Mobile, Nokia, Huawei, Telefonica, Vodafone, Dish, RAN, AT, T Network, Reuters, Samsung, Verizon, U.S ., Fujitsu Locations: Barcelona, Spain, ORAN, United States, New York

New networks by Dish (DISH.O) and Japan's Rakuten (4755.T) use Open RAN. "All of the new equipment that we are going to be putting out will be Open RAN capable," Chris Sambar, president of AT&T Network, told Reuters. Winning the Open RAN deal will make Ericsson the largest supplier to AT&T as it slowly takes over Nokia's share, the company said. AT&T will still have contracts which other Open RAN vendors outside this deal. AT&T expects fully integrated Open RAN sites operating in coordination with Ericsson and Fujitsu (6702.T), starting in 2024.

Persons: Brendan McDermid, Japan's Rakuten, Chris Sambar, Sambar, You've, Supantha Mukherjee, Matthew Lewis Organizations: New York Stock Exchange, REUTERS, Rights, Ericsson, Nokia, Huawei, Telefonica, Vodafone, RAN, AT, T Network, Reuters, Samsung, Verizon, U.S ., Fujitsu, Thomson Locations: New York, U.S, ORAN, United States, Stockholm

☆ Rakuten's mobile misadventure: from ambitious plan to millstone
▼ + stars: | 2023-11-29 | by ( Anton Bridge | ) www.reuters.com time to read: +5 min

By any measure, cash-bleeding Rakuten Mobile is deeply troubled. Rakuten is set for another tough year in 2024 with investors keen to see if it can achieve its goal of having the mobile unit break even. Those steps have raised some 800 billion yen ($5.4 billion). Then in October, SoftBank Corp (9434.T), Japan's No.3 mobile network provider, began offering a generous reward campaign for most mobile users using SoftBank Group's (9984.T) PayPay online payment system. Without profits, the mobile unit is not likely to entice would-be suitors and competition laws would probably prevent the likes of SoftBank and Docomo from bidding.

Persons: Japan's Rakuten, Hiroshi, Mickey, Rakuten, Mitsunobu Tsuruo, Rakuten's, NTT Docomo, Mikitani, Amir Anvarzadeh, Anton Bridge, David Dolan, Edwina Gibbs Organizations: Citi, Amazon Japan, Rakuten Securities, Rakuten Bank, SBI Securities, GUNNING, Rakuten Mobile, Reuters, NTT, SoftBank Corp, Asymmetric Advisors, Thomson Locations: TOKYO, ARPU

☆ Rakuten to invest $363 million in better frequency cell base
▼ + stars: | 2023-10-23 | by ( ) www.reuters.com time to read: +1 min

The logo of Rakuten is pictured in Yokohama, Kanagawa, Japan, Aug 2, 2023. REUTERS/Miho Uranaka/File Photo Acquire Licensing RightsTOKYO, Oct 23 (Reuters) - Japan's Rakuten Group (4755.T) on Monday said it would invest 54.4 billion yen ($362.81 million) to construct cellular base stations, just after the government announced it had assigned the company's carrier better frequency for connection. The announcement could boost the company's mobile phone business that has struggled to take market share from cash-rich incumbents known for high-quality networks. Rakuten said it plans to open 10,661 base stations for the "platinum band" frequency and expects its cell phone business to turn profitable in 2026. The company is sticking to a plan to reduce capital expenditure by about 300 billion yen between 2023 and 2025, a spokesperson said.

Persons: Miho Uranaka, Rakuten, Satoshi Sugiyama, Barbara Lewis Organizations: REUTERS, Rights, Thomson Locations: Yokohama, Kanagawa, Japan

☆ Rakuten to combine credit card and mobile payments business -NHK
▼ + stars: | 2023-08-10 | by ( ) www.reuters.com time to read: 1 min

The logo of Rakuten is pictured at the headquarters of Rakuten in Tokyo, Japan, May 15, 2019. REUTERS/Sam NusseyTOKYO, Aug 10 (Reuters) - Japan's Rakuten Group (4755.T) will combine its credit card and mobile payment businesses and is considering listing its card business, public broadcaster NHK reported on Thursday. This would be the e-commerce group's latest attempt to shore up its finances after racking up enormous losses since 2020 on its beleaguered attempt to establish Japan's fourth major mobile network carrier. Reporting by Anton Bridge; Editing by Jamie FreedOur Standards: The Thomson Reuters Trust Principles.

Persons: Sam Nussey TOKYO, Anton Bridge, Jamie Freed Organizations: REUTERS, NHK, Thomson Locations: Rakuten, Tokyo, Japan

☆ Japan's struggling Rakuten to combine credit card and mobile payments business
▼ + stars: | 2023-08-10 | by ( Anton Bridge | ) www.reuters.com time to read: +2 min

REUTERS/Sam NusseyTOKYO, Aug 10 (Reuters) - Japan's Rakuten Group (4755.T) will fold its payments and points businesses into its credit card unit, it said on Thursday, a move that could set the struggling e-commerce company up to eventually list the card business. It has turned to listing some of its units - including its popular internet banking business, Rakuten Bank (5838.T) - to generate cash. The company said on Thursday it plans to consolidate its payments and points businesses and fold them into Rakuten Card, its credit card and loans unit. Rakuten Card will become the "driving force" behind its integrated payments business and may form strategic partnerships with other companies as well as "raising its own capital as necessary", Rakuten said in a statement. Users accumulate points by using Rakuten credit cards, shopping and insurance services.

Persons: Sam Nussey TOKYO, Rakuten, Tareq Amin, Anton Bridge, Jamie Freed, David Dolan, Gerry Doyle Organizations: REUTERS, Rakuten Bank, Rakuten, Public, NHK, Refinitiv, Thomson Locations: Rakuten, Tokyo, Japan

☆ Rakuten Group developing services with OpenAI
▼ + stars: | 2023-08-02 | by ( ) www.reuters.com time to read: 1 min

TOKYO, Aug 2 (Reuters) - Japan's Rakuten Group (4755.T) is working with the company behind ChatGPT, OpenAI, to develop services using AI, CEO Hiroshi Mikitani announced on Wednesday. The companies will soon sign a basic agreement, he said. Reporting by Anton Bridge; Editing by Jacqueline WongOur Standards: The Thomson Reuters Trust Principles.

Persons: Hiroshi Mikitani, Anton Bridge, Jacqueline Wong Organizations: Thomson Locations: TOKYO

☆ Exclusive: Japan's Rakuten plans new share issue to raise around $2.2 bln -sources
▼ + stars: | 2023-05-15 | by ( Miho Uranaka | ) www.reuters.com time to read: +3 min

The public offering is expected to raise roughly 300 billion yen ($2.2 billion) but the amount could change depending on Rakuten's share price, which will influence the pricing of its new equity issuance. Additionally, Rakuten plans to issue shares to founder and CEO Hiroshi Mikitani and a fund controlled by the entrepreneur, the person said. A Rakuten spokesperson said it was not something it could comment on. Rakuten shares erased gains and tumbled, closing down 9% after the Reuters report. The group has some 400 billion yen in bonds due by 2024 and a further 430 billion yen in 2025, Refinitiv data showed.

☆ Exclusive: In Rakuten Bank's downsized IPO, investors pushed for details on troubled parent, sources say
▼ + stars: | 2023-04-20 | by ( Miho Uranaka | ) www.reuters.com time to read: +3 min

Rakuten Bank declined to comment beyond what it has already disclosed. Rakuten Group directed Reuters to Rakuten Bank. Rakuten Bank also disclosed a 63.2 billion yen investment in securitised assets related to the struggling mobile business. It later priced the IPO at the top of the scaled-back range, valuing the bank at 238 billion yen. Demand from overseas investors was so strong at the lowered price that bankers ultimately increased the portion of IPO available to overseas investors, filings showed.

☆ Exclusive: Japan's Rakuten plans IPO of bank unit, offering seen at $755 mln -sources
▼ + stars: | 2023-03-22 | by ( ) www.reuters.com time to read: +1 min

The Tokyo Stock Exchange is likely to approve the listing of Rakuten Bank Ltd as early as Wednesday, the people said, declining to be identified because the information is private. Rakuten will sell some of its stake in the offering and Rakuten Bank will issue new shares, for a total of around 100 billion yen ($755 million), the people said. The deal is expected to value the bank, Japan's largest online lender by number of accounts, at around 300 billion yen ($2.3 billion), one of the people said. Rakuten and Rakuten Bank did not respond to requests for comment. A spokesperson for the Tokyo exchange declined to comment.

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