TOKYO -- Rakuten Group on Wednesday reported its second straight quarterly loss and a 65.4 billion yen ($590 million) deficit for the January to June fiscal first half, as capital costs piled up in the company's fledgling mobile segment, including the 40 billion yen acquisition of a U.S.-based mobile technology company.
Telecommunication
Rakuten logs $590m half-year loss on heavy telecom spending
CEO Mikitani sees mobile business as crucial for pulling in new customers
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Rakuten Group is investing heavily to develop its virtual communications network, the Rakuten Communications Platform. (Photo by Kosuke Imamura)
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