TOKYO -- Japan's Rakuten on Friday announced it plans to raise 242 billion yen ($2.2 billion) by issuing new shares to Japan Post Holdings, Walmart and an investment firm backed by China's Tencent.
Business deals
Rakuten lands $2bn in capital from Tencent, Walmart and Japan Post
Move helps Japan online group strengthen mobile business and take on Amazon
Rakuten, which began as a platform for online retailers, is teaming up with Japan Post as it endeavors to become a bigger player in Japan's digital economy. Walmart and a Tencent subsidiary are investing in its latest expansion. (Source photos by Arisa Moriyama, Kosaku Mimura and Reuters)
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