Rakuten to raise up to 332 bil. yen via new share issues

Japanese e-commerce and mobile communication company Rakuten Group Inc. said Tuesday it will raise up to 332 billion yen ($2.4 billion) via new share issues, including third-party allotments, as it tries to improve its financial standing following aggressive investments in its mobile phone business.

Part of the funds to be raised in early June will also be invested for the expansion of the mobile phone service as continued declines in losses from the telecommunication business and accelerated base station installations made it possible to “foresee, to a considerable extent, the total amount of...