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Rakuten considers capital tie-ups to turn finances around

Japanese tech company posts record loss as push into mobile struggles

Rakuten has turned in a net loss for four straight years through 2022 due to the problems at the mobile business.   © Reuters

TOKYO -- Rakuten Group has languished in the red for four straight years under the weight of its mobile business, forcing the Japanese web and fintech company to explore capital tie-ups to raise funds for shoring up its finances.

"Interest-bearing debt is ballooning," Chairman and CEO Hiroshi Mikitani told an earnings briefing Tuesday. To improve the company's finances, "we're preparing to list Rakuten Bank and Rakuten Securities," he said.

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