Rakuten, a major IT company, posted a net loss of more than 114 billion yen over the last year.
This was due to a large investment in the maintenance of base stations in the newly entered mobile phone business, resulting in the largest deficit ever.
Rakuten announced on the 12th that the group's financial results for the last year were 1,455.5 billion yen, 15.2% higher than the previous year.
Due to the influence of the new coronavirus, the online shopping business was strong due to the so-called nesting demand of people who spend their time at home, resulting in record high sales.
On the other hand, the final loss was 114.1 billion yen, the largest ever, due to the large investment in the maintenance of base stations in the newly entered mobile phone business.
Rakuten plans to turn the mobile phone business into the black in 2023, but President Hiroshi Mikitani announced at an online press conference last month a new plan to gradually reduce charges according to data usage. He said that the number of applications has increased significantly, and said that "the timing of profitability may be advanced."