Japan e-commerce giant Rakuten aims to take online bank public

Economy

Japanese e-commerce giant Rakuten Group Inc. said Thursday it is preparing to list shares in its online banking unit Rakuten Bank, enabling it to secure its own financing and boost the group's fintech business. Rakuten Bank is expected to remain a consolidated subsidiary of the group even after the listing, the date of which has yet to be decided, according to the company. With 11 million accounts as of July, the bank is a vital part of a unique "Rakuten ecosystem" that connects a wide variety of services, such as e-commerce, travel, credit cards, securities and mobile services, all through me...

Kyodo News

Kyodo News