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☆ 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 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 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 shares jump as mobile losses narrow
▼ + stars: | 2023-08-14 | by ( Anton Bridge | ) www.reuters.com time to read: +2 min

REUTERS/Miho UranakaTOKYO, Aug 14 (Reuters) - Rakuten Group (4755.T) shares surged on Monday morning after the e-commerce giant reported narrowing losses at its cash bleeding mobile unit last week alongside assurances that it can cover its debt burden for the next financial year. Rakuten has taken to publicly listing its more successful units to generate cash, listing its internet banking business - Rakuten Bank (5838.T) - in April and applying to list its securities business in July. Last week, Rakuten also announced plans to consolidate its payments and points businesses and fold them into Rakuten Card, its credit card and loans unit. Rakuten also committed to taking on no additional gross debt, instead using equity-related financing to reduce its debt burden. The group has a total of 1.9 trillion yen ($13.11 billion) in debt, with 406 billion yen due in 2024 and a further 430 billion yen in 2025, according to Refinitiv data.

Persons: Miho Uranaka, Jefferies, Rakuten, Anton Bridge, Jacqueline Wong Organizations: REUTERS, Rakuten, Rakuten Bank, Thomson Locations: Yokohama, Kanagawa, Japan, Miho Uranaka TOKYO

☆ 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

☆ Rakuten shares slump 6% on expected $2.2 bln new share issuance
▼ + stars: | 2023-05-16 | by ( ) www.reuters.com time to read: +1 min

The Japanese e-commerce and fintech company's board could meet as early as this week to decide on the capital raising, which is expected to raise roughly 300 billion yen ($2.2 billion), sources told Reuters on Monday. Prospects of a share dilution led on Monday to the biggest one-day drop in three years. "Whenever there is a large sale of new equity, that is dilutive but it also forces decisions about whether to hold. Some will be upset and will sell," said analyst Travis Lundy of Quiddity Advisors, who publishes on Smartkarma. Rakuten said in a statement it was not true that any such decision had been made.

☆ 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.

☆ Rakuten Bank shares face glut of buy orders in Tokyo debut after $625 mln IPO
▼ + stars: | 2023-04-21 | by ( ) www.reuters.com time to read: +1 min

TOKYO, April 21 (Reuters) - Shares of Rakuten Bank Ltd (5838.T) were untraded with a glut of buy orders in their market debut on Friday, after the internet bank raised $625 million in Japan's largest initial public offering (IPO) in more than four years. Shares were flooded with buy orders at 1,470 yen, Tokyo Stock Exchange data showed, a 5% premium to the IPO price of 1,400. Rakuten Bank priced its IPO at the top of its downsized range this month, raising around 83.3 billion yen ($625 million), excluding a "greenshoe" option of additional shares. Rakuten amended its IPO prospectus after investors pushed for details on the risks from its exposure to money-losing parent Rakuten Group Inc (4755.T), Reuters reported on Thursday citing two people with knowledge of the matter. The IPO marks a much-needed cash boost for e-commerce firm Rakuten Group, which has seen four years of losses from the costly build-out and struggles of its mobile phone business.

☆ 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.

☆ Rakuten’s Super Bowl Ad Return Will Emphasize Savings in an Uncertain Economy
▼ + stars: | 2022-12-08 | by ( Megan Graham | ) www.wsj.com time to read: +3 min

Shopping platform Rakuten plans to return as a Super Bowl advertiser in February to highlight how it can help consumers save money shopping during an uncertain economic time. The company, a U.S.-based division of Japanese e-commerce giant Rakuten Group Inc., earlier this year made its first appearance as a Super Bowl advertiser to raise its awareness with U.S. customers. Super Bowl LVII will air Feb. 12, 2023, on Fox. Fox said in September that 95% of its Super Bowl ad inventory had been sold. “A Super Bowl ad may seem incongruent with layoffs or declining general health of the business or category.”Marketers more broadly are responding to inflation by emphasizing the value of their brands, whether by pushing lower prices or by showing how their products last longer.

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