(Bloomberg) — Rakuten Group Inc. mentioned it not plans to checklist its securities arm on the Tokyo Inventory Trade, and can as an alternative concentrate on deepening its partnership with Mizuho Securities Co.
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The Japanese e-commerce pioneer had deliberate an preliminary public providing for Rakuten Securities Holdings Inc., a part of a push to shore up funds depleted by a foray into Japan’s hyper-competitive wi-fi service market. In late 2023, it quickly withdrew that software, stating that it will reapply for a list at a later date.
Mizuho to Elevate Rakuten Securities Stake, Brokerage Pulls IPO
However in November, Rakuten reported its first quarterly working revenue since 2020 after losses in its cellular phase shrank. That phase is now worthwhile, discounting advertising prices to win new clients, Rakuten founder Hiroshi Mikitani instructed Bloomberg TV in a current interview.
Rakuten Billionaire Defends Expensive Cellular Foray With Large AI Guess
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