Rakuten Sees 110-B.-Yen Gain from Lyft's Listing

Economy

Tokyo, April 1 (Jiji Press)--Rakuten Inc. <4755> said Monday it expects to post a valuation gain of about 110 billion yen on its shareholdings in Lyft Inc., which debuted on the U.S. Nasdaq stock market on Friday.

The major Japanese online mall operator is the largest shareholder of Lyft, a U.S. ride-hailing startup, holding a stake of about 13 pct.

Rakuten is slated to book the valuation gain for the first quarter of the business year through December.

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