Fintech
Rakuten Group Delays End of Fintech Corporate Reorganization
Japanese online services giant Rakuten Group says its fintech reorganization won’t be completed until January next year. The original target date was October.
In April, the group said it would combine its banking, securities, credit cards and other financial services businesses into a single group.
But he now says more discussions are needed. This includes discussions on issues including legal regulations for each fintech service, as well as changing the group structure to improve services.
The group has posted net losses for five consecutive years through 2023, mainly due to difficulties in its mobile phone business.
It hopes that the reorganization and simplification of its financial business, which has performed well, will strengthen the ties between its subsidiaries.