Japan’s Rakuten Group Suffers Record Net Loss of 372 Billion Yen

Jiji Press

17:37 JST, February 15, 2023

TOKYO (Jiji Press) — Rakuten Group Inc. on Tuesday reported a record group net loss of ¥372.8 billion in 2022, far bigger than the year-before loss of ¥133.83 billion.

The company logged a loss of ¥492.8 billion on its mobile phone business, against the year-before loss of ¥421.1 billion.

The number of subscribers to its mobile phone service at the end of 2022 fell to 5.06 million from 5.37 million a year before after Rakuten abolished its zero-yen plan for those who use a low amount of data.