Rakuten Group, Inc. provides e-commerce, fintech, digital content, and communications services to users in Japan, the Americas, Europe, Asia, and other international markets. It operates through three segments: Internet Services, FinTech, and Mobile. Its offerings include e-commerce sites such as Rakuten Ichiba, online cash-back and travel booking sites, portal and digital content sites, messaging services, credit card, banking, and securities services, crypto asset spot transactions, life and general insurance, and payment services. The company also sells advertising, manages professional sports teams, provides communication services and technologies, operates electricity supply services, and conducts investment activities. Formerly known as Rakuten, Inc., it changed its name to Rakuten Group, Inc. in April 2021. Incorporated in 1997, it is headquartered in Setagaya, Japan.
Rakuten's satellite bet and first profit in seven years drive the story
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Government grant for satellite network Japan will give Rakuten up to 148 billion yen to build a domestic satellite communications network, reducing reliance on foreign services like Starlink. This is a huge cash injection that lowers the cost and risk of a new growth business, supporting the share price.
This is a major new capital boost that directly improves Rakuten's financial position and future prospects.
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Joint venture with AST SpaceMobile Rakuten is forming a joint venture with AST SpaceMobile to offer satellite-powered mobile service in Japan, with coverage targeted for next year. This opens a new revenue stream and strengthens Rakuten Mobile's offering, which the market views as a positive growth driver.
The JV is a concrete new business expansion that could add subscribers and revenue, directly impacting Rakuten's value.
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First operating profit in seven years Rakuten reported a 50.4 billion yen operating profit for the June 2026 interim period, its first in seven years, as internet shopping and financial services grew strongly and mobile losses narrowed. This shows the core business is turning around, a key positive for the stock.
Profitability is the most fundamental driver of share price, and this milestone signals a major improvement in Rakuten's financial health.
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Mobile service disruptions after Kumamoto earthquake Rakuten Mobile's services were disrupted in Kumamoto after a powerful earthquake, with no timeline for restoration. While temporary, this highlights network vulnerability and could hurt customer trust and add costs, a modest negative for the stock.
This is a new operational setback that could affect Rakuten Mobile's reputation and near-term performance.
Q3 2026
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Rakuten's satellite bet and first profit in seven years drive the story
▲
Government grant for satellite network Japan will give Rakuten up to 148 billion yen to build a domestic satellite communications network, reducing reliance on foreign services like Starlink. This is a huge cash injection that lowers the cost and risk of a new growth business, supporting the share price.
This is a major new capital boost that directly improves Rakuten's financial position and future prospects.
▲
Joint venture with AST SpaceMobile Rakuten is forming a joint venture with AST SpaceMobile to offer satellite-powered mobile service in Japan, with coverage targeted for next year. This opens a new revenue stream and strengthens Rakuten Mobile's offering, which the market views as a positive growth driver.
The JV is a concrete new business expansion that could add subscribers and revenue, directly impacting Rakuten's value.
▲
First operating profit in seven years Rakuten reported a 50.4 billion yen operating profit for the June 2026 interim period, its first in seven years, as internet shopping and financial services grew strongly and mobile losses narrowed. This shows the core business is turning around, a key positive for the stock.
Profitability is the most fundamental driver of share price, and this milestone signals a major improvement in Rakuten's financial health.
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Mobile service disruptions after Kumamoto earthquake Rakuten Mobile's services were disrupted in Kumamoto after a powerful earthquake, with no timeline for restoration. While temporary, this highlights network vulnerability and could hurt customer trust and add costs, a modest negative for the stock.
This is a new operational setback that could affect Rakuten Mobile's reputation and near-term performance.
News & notes moving4755.JP
Japan
Cloud & Digital Infrastructure▼3
KDDI to Scale Back Roaming for Rakuten Mobile from October in 18 Designated Cities and Elsewhere
KDDI announced on the 30th the areas where it will provide its mobile phone network to Rakuten Mobile, known as roaming, from October onward, revealing that it will significantly reduce coverage in 18 designated cities including Yokohama, Kobe and Sendai. In the affected areas, Rakuten Mobile's service may become difficult to connect. In addition to the 18 designated cities, excluding Osaka and Nagoya where coverage had already been reduced, core cities such as Asahikawa in Hokkaido will also be subject to the reduction. For regional areas where Rakuten Mobile's base station rollout has lagged, KDDI says it will cooperate in maintaining infrastructure for a certain period, on the major premise that Rakuten Mobile will carry out the buildout itself.
4755.JP · Supply · Negative KDDI will significantly reduce roaming coverage in 18 designated cities and other areas from October, making Rakuten Mobile's service harder to connect.
9433.JP · Supply · Neutral KDDI scales back the network capacity it supplies to Rakuten Mobile, but also agrees to help maintain regional infrastructure for a period.
Ferrari Signs Rakuten Partnership Effective 2027 as Order Book Fills
Ferrari N.V. announced a partnership with Rakuten Group, Inc. on September 17, effective January 1, 2027, though the company gave no scope or price tag for the deal. The real substance sits in Ferrari's second-quarter results, where revenue rose 8% and operating profit rose 10%, or 11% and 16% at constant currency, prompting the carmaker to raise its 2026 revenue guidance to about €7.60 billion from about €7.50 billion. Industrial free cash flow jumped 39% to €276 million, and Ferrari returned more than €800 million to shareholders through a dividend and buybacks, while its order book covers 2027 in full and the new 12Cilindri Manuale is already fully allocated. Some of the strength is timing: operating profit benefited from temporarily lower depreciation and amortization during a model changeover, and net profit leaned on a 23.0% tax rate reflecting an estimated Patent Box benefit, while EBITDA margin slipped to 39.0% from 39.7% and currency pressure from the dollar and yen cut reported growth. Deliveries totaled 3,366 cars, hedge fund holders slipped to 41 from 43, short interest sits at 2.93% of the float, and the forward P/E stood at 32.57 as of September 18.
Ferrari Signs Partnership Agreement With Rakuten, Effective January 1, 2027
Ferrari said its wholly owned Italian subsidiary Ferrari S.p.A. has signed a partnership agreement with Rakuten Group, with the deal set to take effect on January 1, 2027. Ferrari described Rakuten as a global technology company but did not disclose the financial terms of the agreement or provide details on the specific scope of the partnership. The companies also have not specified whether the arrangement will be tied to Scuderia Ferrari's Formula 1 operations or to Ferrari's broader commercial and lifestyle activities. Rakuten, a Japanese company, has previously used sports partnerships as part of its global brand and customer-engagement strategy.
4755.JP · Demand · Positive Rakuten signed a partnership with Ferrari, extending its sports-partnership brand and customer-engagement strategy.
RACE · Demand · Positive Ferrari signed a partnership agreement with Rakuten, a brand/customer-engagement deal that could support its commercial and lifestyle activities.
Rakuten Mobile Retracts Mandatory Rakuten ID Linking Policy, Abandons Automatic Cancellation
Rakuten Mobile announced on the 14th that it is retracting its policy of automatically cancelling mobile phone service contracts that are not linked to the Rakuten Group's shared Rakuten ID. The company commented, "We deeply apologize for causing concern." On August 31, Rakuten Mobile had announced that phone numbers would be invalidated and voice and data communication services would become unavailable for subscribers who did not link a Rakuten ID by the end of November. In response, the Ministry of Internal Affairs and Communications conducted hearings with the company, citing the significant impact on users. Regarding the reason for retracting the policy, the company explained that it "reconsidered the matter internally," but subscribers who do not link an ID may find some functions temporarily unavailable from December 1 onward.
4755.JP · Regulation · Negative Rakuten Mobile retracted its mandatory Rakuten ID linking and automatic cancellation policy after the communications ministry intervened, a regulatory setback.
Rakuten to Keep Furusato Nozei Intermediary Fees, Three Other Firms to Cut Conditionally
The Ministry of Internal Affairs and Communications on the 11th released the responses of operators to its request to lower fees on furusato nozei intermediary sites. Among the four major companies said to account for more than 80 percent of donations made through such sites, Rakuten Group said it would keep the fees for its Rakuten Furusato Nozei service unchanged, while the other three indicated they would lower them conditionally. The ministry took issue with the fact that the fees paid by local governments account for 10 percent or more of donation amounts, and in May asked each company to reduce them, requesting responses by the end of August. The companies' fee rates range from 6.6 to 15.9 percent, and individual rates have not been disclosed. Rakuten explained that its fee rate is below 10 percent and remains at a low level. The operators of the Satofull, Furunavi, and Furusato Choice sites said they would lower their fee rates to around 3 percent for donations made through local governments' own websites and other channels, but a ministry official noted that there are not that many local government-specific sites and that it is unclear whether this will have an effect.
4755.JP · Regulation · Negative Ministry pressured furusato nozei operators to cut fees; Rakuten refused to lower its fees, risking regulatory scrutiny.
さとふる · Regulation · Neutral Satofull conditionally agreed to cut fees to around 3% for local-government channels, but a ministry official questioned whether this will have real effect.
Rakuten to partner with German drone startup Helsing to support delivery to Japan's Ministry of Defense
It was learned on the 17th that Rakuten Group will partner with Helsing, a German startup developing military attack drones. Rakuten will serve as Helsing's point of contact in the Japanese market and support delivery of the company's HX-2 drone to the Ministry of Defense. Helsing's drones are remotely operated from land to stop submarines and other threats approaching the coast, and the Ministry of Defense will conduct demonstration tests through the end of September to consider whether to introduce them in the Ground Self-Defense Force. The use and procurement scale are undecided, but depending on the test results, domestic mass production could also be considered. Helsing is based in Munich in southern Germany and has delivered several thousand HX-2 drones to Ukraine, but it has little track record in Japan, so Rakuten, which has connections with the Ministry of Defense, has effectively become an intermediary. Rakuten already operates a drone business, but it has focused mainly on building exterior wall surveys and inspections and has not handled defense use.
Rakuten returns to operating profit for first time in seven years, posting 50.4 billion yen in June interim results
Rakuten Group swung to an operating profit of 50.4 billion yen in its consolidated interim results for the June 2026 period, marking its first return to the black for this period in seven years. Its internet shopping and financial businesses performed well, with adjusted operating profit from online shopping and other segments rising 54.8 percent year on year, and the financial segment climbing 46.6 percent. The mobile phone business narrowed its loss to 92.2 billion yen, while the number of subscriber lines grew 20 percent to 10.75 million. The net loss shrank significantly to 10.9 billion yen.
Rakuten Group books 17 billion yen impairment on warehouse leasing business
Rakuten Group announced it recorded a 17 billion yen impairment of fixed assets in its logistics warehouse space leasing service during the second quarter of the fiscal year ending December 2026. Due to uncertain prospects for future cargo volume growth, the company decided to convert the leasing service to in-house use and assessed the recoverable amount of the relevant assets as zero. As a result, consolidated net profit for the second quarter fell to a loss of 10.9 billion yen.
4755.JP · Capital · Negative Rakuten recorded a 17 billion yen impairment on warehouse leasing assets, leading to a consolidated net loss of 10.9 billion yen in Q2.
KDDI to end roaming provision to Rakuten at the end of September
KDDI President Hiroji Matsuda revealed on the 7th a policy to terminate the current contract for providing mobile network roaming to Rakuten Mobile at the end of September. From October onward, provision in urban areas will be discontinued, while it will continue for a certain period only in some rural areas where Rakuten's base station deployment is lagging. This is to focus on improving communication quality for its own brand users, and President Matsuda stated, "The network is experiencing more congestion than expected. Ending the contract will resolve this." KDDI has been providing roaming to Rakuten since October 2019, but due to delays in Rakuten's 5G base station deployment, the termination of provision may lead to a decline in communication quality.
Mobile Service Disruptions Continue After Kumamoto Earthquake; Convenience Stores and Gas Stations Temporarily Closed
Mobile phone service disruptions and temporary closures of convenience stores and gas stations continued on the 29th following the earthquake that registered a maximum seismic intensity of 7 in Kumamoto Prefecture. NTT Docomo, KDDI, SoftBank, and Rakuten Mobile reported that calls and data services remain unavailable in parts of the prefecture due to power outages at base stations and transmission line failures, with no timeline for restoration. Major convenience store operators Seven-Eleven Japan, Lawson, and FamilyMart have temporarily closed a total of over 100 stores in the prefecture due to power outages and worsening road conditions, and are rushing to resume operations while providing relief supplies to disaster victims. According to the Ministry of Economy, Trade and Industry, 18 gas stations in the affected areas had suspended operations as of 1 p.m. on the 29th, with another 101 stations under status confirmation, impacted by the suspension of shipments from two oil terminals in Yatsushiro City. Japan Post has halted all counter services and Yu-Pack parcel handling in the prefecture, and Nippon Express has also suspended cargo acceptance and collection and delivery across wide areas of the prefecture.
Rakuten Wallet Creates First Physical Shiba Inu Coin for 44 Million Users
Rakuten Wallet has created the first-ever physical Shiba Inu coin, the fifth release in its collectible Real Coin series. The coin features a unique tactile surface and has already become a hit in internal tests. The Japanese tech giant serves 44 million users.
Over 140 Companies Including Visa and Stripe Launch Jointly Operated Stablecoin Open USD
Independent entity Open Standard has announced the dollar-denominated stablecoin Open USD. More than 140 companies are participating, including Visa, Mastercard, Stripe, BlackRock, and Coinbase, with the aim of establishing an open standard jointly operated by the member firms. The yield on reserve assets, minus a small operating fee, is designed to be returned to the participating companies that contribute to adoption and circulation, and there are no fees for issuance or redemption. The launch is scheduled for the latter half of 2026, and on the day of the announcement, shares of USDC issuer Circle fell roughly 16 percent. Japanese companies such as PayPay, Mizuho Financial Group, Sumitomo Mitsui Financial Group, and Rakuten Group are also among the participants, a move that contrasts with domestic efforts by three banks including MUFG Bank to jointly issue a yen-denominated stablecoin.
Digital Finance & Tokenization › Stablecoin Issuers ▼Competition
Digital Finance & Tokenization › Distribution & Revenue-Share Partners ▲Competition
Digital Finance & Tokenization › Payments Modernization & Rails ▲Technology
CRCL · Competition · Negative Circle's USDC faces direct competition from the new jointly operated stablecoin Open USD, causing its shares to fall 16%.
Open Standard · Technology · Positive Open Standard is launching Open USD, a jointly operated stablecoin with over 140 companies.
8306.JP · Competition · Negative MUFG's joint yen stablecoin effort faces competition from the Open USD initiative, which includes Japanese participants.
8316.JP · Competition · Negative SMFG's joint yen stablecoin effort faces competition from the Open USD initiative, which includes Japanese participants.
8411.JP · Competition · Negative Mizuho's joint yen stablecoin effort faces competition from the Open USD initiative, which includes Japanese participants.
4755.JP · Demand · Positive Rakuten is a participant in the Open USD stablecoin, potentially boosting its fintech and payment services.
Japan's National Police Agency signs information-sharing agreement with Mercari and two other e-commerce firms to prevent fraudulent transactions
On the 9th, Japan's National Police Agency signed an agreement on information sharing with three companies — Mercari, LINE Yahoo, and Rakuten Group — to prevent fraudulent transaction damage on e-commerce sites. The companies will provide police with fraudulently used credit card numbers and malicious seller account information, which police will cross-reference with their own data for cross-sectional analysis. When police determine there is a strong risk of expanding damage, such as suspected organized activity, they will provide all three companies with the information needed to prevent further harm. The businesses will then take measures such as alerting users, suspending related accounts, and halting product shipments.
Rakuten Group rating kept at neutral by major Japanese brokerage, target price lowered to 840 yen
A major Japanese brokerage on July 6 kept its rating on Rakuten Group at neutral and lowered its target price from 890 yen to 840 yen. As of the previous day, the rating consensus among 10 analysts stood at 3.9, indicating a moderately bullish view, with a target price consensus of 918 yen.
Rakuten to receive up to 148 billion yen Japan government grant for satellite network
Japan will grant up to 148 billion yen, equivalent to 912 million dollars, to Rakuten Group to help build a satellite communications network, the Communications and Information Network Association of Japan said on Tuesday. Rakuten is in talks with U.S.-based AST SpaceMobile to form a joint venture for the project. Japan currently relies on foreign services such as SpaceX's Starlink for low-orbit satellite communications and aims to develop domestic operators to strengthen economic security. Low-orbit satellite services allow smartphones and other devices to function outside cellular base station range or when disasters disable those stations.
AST SpaceMobile Soars 21% on Rakuten Satellite Deal
AST SpaceMobile shares surged 21.44 percent to close at $86.77 on Monday after reports that it is partnering with Japan's Rakuten Group to develop a satellite internet service similar to Starlink. Nikkei reported the two companies are forming a joint venture potentially worth $1 billion to buy and operate satellites for a direct-to-mobile service, with coverage in Japan targeted for next year. The rally was also fueled by confirmation that its next-generation BlueBirds 8, 9, and 10 are now fully operational in orbit, and that manufacturing is advancing through BlueBird 37. The company plans to launch BlueBirds 11, 12, and 13 in the first half of August as it expands its space-based cellular broadband network.
Space Economy › Satellite Broadband, MSS & Ground Equipment Competition
ASTS · Demand · Positive Partnership with Rakuten for satellite internet service and operational status of BlueBirds satellites indicate strong demand for its products.
4755.JP · Demand · Positive Rakuten forms joint venture with AST SpaceMobile to develop satellite internet service, expanding its business.
AST SpaceMobile sets August BlueBird satellite launch and forms Rakuten joint venture in Japan
AST SpaceMobile plans to launch its next-generation BlueBird 11, 12, and 13 satellites in the first half of August, expanding its space-based cellular broadband network for direct-to-smartphone service. The company has also formed a joint venture with Rakuten to offer satellite-powered mobile connectivity in Japan. The combination of new satellite capacity and a local partner marks a shift toward broader commercial rollout, linking hardware deployment with a defined path to end users. Attention is likely to center on execution milestones such as launch timing, network performance, and service availability in Japan.
Space Economy › Satellite Connectivity & Direct-to-Device ▲Competition
ASTS · Technology · Positive Plans to launch next-gen BlueBird satellites in August, expanding space-based cellular broadband network.
4755.JP · Demand · Positive Forms joint venture with AST SpaceMobile to offer satellite-powered mobile connectivity in Japan, creating a path to end users.
Golden State and Rakuten extend historic founding partnership
Golden State and Rakuten Group have extended their historic founding partnership in a multi-year deal that includes fan-facing and community-focused initiatives with the Golden State Warriors, Golden State Valkyries and Santa Cruz Warriors. Rakuten will continue as the presenting sponsor of the Warriors Women's Empowerment efforts annually in March, as well as its flagship social impact initiative focused on mentorship and empowering the next generation of leaders. Rakuten members continue to receive a minimum of 10% Cash Back on every purchase at Golden State Shop, along with access to exclusive merchandise, unique experiences, and limited-edition drops. As part of the extended term, Rakuten will transition from its current placement as the Warriors' jersey badge partner to deepen its focus on fan engagement and community impact, including contributions of more than $12 million through the partnership in support of the Golden State Community Foundation's educational equity and local community initiatives. The extension positions Rakuten as the longest-committed partner in Golden State Valkyries history, marking a significant milestone in Rakuten's investment in women's basketball and the Bay Area community.
4755.JP · Demand · Positive Rakuten extends multi-year partnership with Golden State Warriors, enhancing brand exposure and customer engagement through fan initiatives and cash-back offers.
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