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☆ Rakuten CEO: Hope to be EBITDA breakeven with mobile business this year
▼ + stars: | 2024-02-27 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRakuten CEO: Hope to be EBITDA breakeven with mobile business this yearMickey Mikitani, the CEO of Rakuten, speaks to CNBC's Arjun Kharpal at Mobile World Congress in Barcelona.

Persons: Hope, Mickey Mikitani, CNBC's Arjun Kharpal Organizations: Rakuten, Mobile Locations: Barcelona

☆ 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

A padlock is seen in front of the word 'spyware' and binary code in this illustration taken May 4, 2022. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsBRUSSELS, Dec 5 (Reuters) - Lobby group Japan Association of New Economy has joined U.S. Big Tech to warn against proposed EU cybersecurity labelling rules that they said could hamper their access to the bloc's markets, according to a letter sent to the EU industry chief. A requirement that Amazon (AMZN.O), Alphabet's (GOOGL.O) Google, Microsoft (MSFT.O) and other non-EU cloud providers set up a joint venture with an EU-based company to qualify for the EU cybersecurity label has triggered criticism from some EU countries and foreign vendors. The Japan Association of New Economy also slammed these requirements. The Japan Association of New Economy is a business lobby group focused on e-business and developing new industries.

Persons: Dado Ruvic, Hiroshi Mikitani, Thierry Breton, Mikitani, Foo Yun Chee, Dave Dolan, Miral Organizations: REUTERS, Rights, Japan Association of New, U.S, Big Tech, European Union, Google, Microsoft, EU, Reuters, Japan Digital Partnership, Thomson Locations: EU, Japan, Japanese, Brussels, Tokyo

☆ 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 Group's losses, debt burden and financing efforts
▼ + stars: | 2023-11-29 | by ( Anton Bridge | ) www.reuters.com time to read: +2 min

Here are some details about its deeply troubled mobile business, the group's operating losses, debt burden and its efforts to shore up its finances. It had 351 billion yen ($2.4 billion) in annual sales last year and accounts for 18% of Rakuten's overall revenue. Rakuten Group currently has total debt of more than 1.5 trillion yen, of which 800 billion yen is due to be redeemed by the end of 2025. Nov 2022 - sells 19.99% of Rakuten Securities to Mizuho Securities for 80 billion yen. Nov 2023 - sells a further 29% of Rakuten Securities to Mizuho Securities for 87 billion yen.

Persons: Miho Uranaka, Rakuten, Hiroshi, Mickey, Mikitani, Anton Bridge, Edwina Gibbs Organizations: REUTERS, Rights, Rakuten, Reuters Graphics Reuters, Reuters Graphics, Japan Post Holdings, HK, Walmart, Rakuten Securities, Mizuho Securities, Rakuten Bank, Thomson Locations: Yokohama, Kanagawa, Japan, Japanese

☆ Rakuten CEO touts Viber's ability to counter Russian 'fake news'
▼ + stars: | 2023-09-09 | by ( Max Hunder | ) www.reuters.com time to read: +2 min

Hiroshi Mikitani, CEO of Rakuten, attends the annual Allen and Co. Sun Valley media conference in Sun Valley, Idaho, U.S., July 10, 2019. REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsKYIV, Sept 9 (Reuters) - Hiroshi Mikitani, the founder and chief executive of Rakuten Group (4755.T), on Saturday touted the ability of his company's Viber messaging platform to counter Russian propaganda. "Unlike other social media, we've made it crystal clear we're going to block all these fake news and propaganda of Russia," Mikitani told Reuters in a Zoom interview during a visit to Kyiv. Viber, which launched in 2010 and was acquired by Rakuten in 2014, has a 98% market penetration rate in Ukraine. Asked if the app had faced attempts to breach it by Russia, he said there had not been any breaches.

Persons: Hiroshi Mikitani, Brendan McDermid, we've, Mikitani, Yoshimasa Hayashi, Viber, Rakuten, Max Hunder, Mike Harrison Organizations: Allen, Co, Sun, REUTERS, Rights, Rakuten, Saturday, Reuters, Access, Thomson Locations: Sun Valley , Idaho, U.S, Russia, Kyiv, Ukraine

☆ Japan foreign minister Hayashi to meet Ukraine counterpart - ministry
▼ + stars: | 2023-09-09 | by ( ) www.reuters.com time to read: +1 min

Japan's Foreign Minister Yoshimasa Hayashi speaks during a press conference with Egyptian Foreign Minister Sameh Shoukry (not pictured) in Cairo, Egypt September 5, 2023. REUTERS/Mohamed Abd El Ghany/file photo Acquire Licensing RightsTOKYO, Sept 9 (Reuters) - Japanese Foreign Minister Yoshimasa Hayashi will meet his Ukrainian counterpart Dmytro Kuleba in Kyiv on Saturday, the Japanese foreign ministry said. In his talks with Kuleba, Hayashi will reiterate Japan's firm support of Ukraine and address its involvement in the international community to end Russia's invasion of Ukraine as soon as possible, the ministry said in a statement. Hayashi is accompanied by executives of Japanese firms, including Hiroshi Mikitani, founder and chief executive Rakuten Group (4755.T), the ministry said. Japan's Prime Minister Fumio Kishida made a surprise visit to Kyiv to meet Ukrainian President Volodomyr Zelenskiy in March.

Persons: Yoshimasa Hayashi, Sameh Shoukry, Mohamed Abd El Ghany, Dmytro Kuleba, Kuleba, Hayashi, Hiroshi Mikitani, Fumio Kishida, Volodomyr Zelenskiy, Junko Fujita, Nobuhiro Kubo, Michael Perry Organizations: Japan's, Egyptian Foreign, REUTERS, Rights, Ukrainian, Rakuten Group, Thomson Locations: Cairo, Egypt, Kyiv, Ukraine

☆ Japan Foreign Minister Hayashi to Meet Ukraine Counterpart - Ministry
▼ + stars: | 2023-09-08 | by ( Sept. | At P.M. | ) www.usnews.com time to read: 1 min

TOKYO (Reuters) - Japanese Foreign Minister Yoshimasa Hayashi will meet his Ukrainian counterpart Dmytro Kuleba in Kyiv on Saturday, the Japanese foreign ministry said. In his talks with Kuleba, Hayashi will reiterate Japan's firm support of Ukraine and address its involvement in the international community to end Russia's invasion of Ukraine as soon as possible, the ministry said in a statement. Hayashi is accompanied by executives of Japanese firms, including Hiroshi Mikitani, founder and chief executive Rakuten Group, the ministry said. Japan's Prime Minister Fumio Kishida made a surprise visit to Kyiv to meet Ukrainian President Volodomyr Zelenskiy in March. (Reporting by Junko Fujita and Nobuhiro Kubo; Editing by Michael Perry)

Persons: Yoshimasa Hayashi, Dmytro Kuleba, Kuleba, Hayashi, Hiroshi Mikitani, Fumio Kishida, Volodomyr Zelenskiy, Junko Fujita, Nobuhiro Kubo, Michael Perry Organizations: Ukrainian, Rakuten Group, Japan's Locations: TOKYO, Kyiv, Ukraine

☆ 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.

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