Rakuten Group has officially announced that it will consider a large-scale reorganization of its financial business. The aim is to consolidate banks, securities companies, credit card companies, and other subsidiaries into one group and strengthen collaboration, which is likely to have an impact on competition among each company.
On April 1, Rakuten Group officially announced that it will begin considering reorganizing its subsidiaries that conduct financial businesses such as banks, securities, and credit cards, and consolidating them into one group.
Among these, Rakuten Bank is expected to maintain its current listing and will proceed with consideration of the idea of establishing other subsidiaries under the bank's umbrella.
Rakuten Group and Rakuten Bank have agreed to begin discussions on the 1st, with the aim of completing the talks by October this year, subject to approval from regulatory authorities.
On the other hand, regarding Rakuten Securities Holdings, we have decided to discuss the possibility of not going public as we had previously been aiming for.
Rakuten's financial results for the entire group have been in the red for five consecutive years, and while the company aims to bring its mobile phone business back into the black, which is the cause of this, the financial business continues to perform well.
Through this reorganization, we aim to improve management efficiency and strengthen cooperation between each subsidiary.
In the financial business, competition across industry boundaries is intensifying among companies against the backdrop of increased individual asset management and the spread of cashless payments, and Rakuten's recent reorganization will have an impact on future competition. seems to give.