Japanese e-commerce large Rakuten Group says its securities subsidiary has utilized to be listed on the Tokyo Stock Exchange. It’s the corporate’s newest transfer to bolster its general monetary well being and offset losses from its struggling cell phone enterprise.
The group introduced that Rakuten Securities Holdings utilized for the itemizing on Tuesday. It says the transfer will enable the subsidiary to “consider various growth and financial strategies” with higher autonomy.
Rakuten has struggled to boost money following aggressive investments in its cell phone enterprise. The agency spent 1 trillion yen, or practically 7 billion {dollars}, to arrange base stations for its mobile community.
But the service has been unable to take market share away from Japan’s three main carriers and isn’t turning a revenue.
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Rakuten Securities Holdings applies for TSE itemizing
NHK – Jul 05
Japanese e-commerce large Rakuten Group says its securities subsidiary has utilized to be listed on the Tokyo Stock Exchange. It’s the corporate’s newest transfer to bolster its general monetary well being and offset losses from its struggling cell phone enterprise.
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