Oil Prices Jump After New U.S. Strikes on Iran Raise Supply Concerns 
Meta Subscription Push Could Add Billions in Recurring Revenue, Says Rosenblatt 
Dow Hits Record High as Healthcare and Consumer Stocks Lead Wall Street Rally 
Iran-U.S. Nuclear Talks Remain Unresolved as Strait of Hormuz Risks Keep Markets on Edge 
Mega IPOs Like SpaceX and OpenAI Could Reshape S&P 500 and Nasdaq 100 Portfolios in 2026 
JPMorgan Sees Biotech Sector at Turning Point, Upgrades Top Pharma Stocks 
US Dollar Slips as Markets Weigh Potential US-Iran Peace Deal and Oil Price Outlook 
US Launches New Trade Investigation Into Vietnam Over Intellectual Property Concerns 
New World Screwworm Found Near U.S. Border Raises Threat to Cattle Industry and Beef Prices 
Samsung Union Dispute Escalates Over Semiconductor Bonus Vote 
Sable Offshore Wins Key Court Battle Over California Oil Pipeline 
Xiaomi Shares Drop After Weak Q1 Earnings Amid Rising Smartphone Costs 
U.S. Launches New Strikes on Iran as Trump Signals Peace Deal Uncertainty 
Australia Sues 3M for Over A$2 Billion Over PFAS Firefighting Foam Contamination 
Asian Stocks Rally as AI Boom and Iran Ceasefire Progress Lift Market Sentiment 
CTOC Goes Live on Bitget Wallet Trading, Expanding Global Access to AI-Powered Healthcare Data Ecosystem 
Elon Musk Explores Possible Tesla-SpaceX Merger Amid Growing AI Investments 
Rakuten Group Inc. announced on Thursday its plan to combine its mobile payment platform with its credit card unit, a strategic move potentially paving the way for a future listing of the beleaguered card business.
According to The Japan Times, while Rakuten Group achieved strong proceeds from its core e-commerce offerings, it lost money for 12 straight quarters. The losses are said to be due to the costly expansion of its mobile phone business, which has failed to pick up steam in Japan despite tremendous efforts.
Because there was not enough cash coming in, Rakuten tried to generate money by selling off some of its businesses, like its internet banking unit, the Rakuten Bank. In any case, the company will consolidate its mobile payment units and fold them into its credit card and loan units.
Once the merging is completed, Rakuten Card is expected to become the company's powerhouse in its integrated payments business. The Japanese financial technology company may also enter into strategic partnerships to boost its income. If needed, Rakuten said it would also raise its own capital.
"Rakuten Card and Rakuten Payment will work together to promote the business, hence we decided on this reorganization because we believe that we can further improve synergies within the Rakuten Group," Rakuten said in a press release. "We believe that this reorganization will lead to the expansion of the Rakuten Group's customer base and the strengthening of our growth strategy, which in turn will contribute to the enhancement of corporate value."
The company further stated, "In addition, by further strengthening the cooperative framework between Rakuten Card and Rakuten Payment, we believe that it will be possible to formulate strategies from a broad perspective for expanding the Rakuten ecosystem. Going forward, Rakuten Card, which will be the driving force behind the integrated payment business, will flexibly consider forming strategic partnerships with third parties and raising its own capital as necessary."
Photo by: Rakuten Media Resources
