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

Yomiuri Shimbun file photo
Rakuten Mobile Inc. President Hiroshi Mikitani speaks to the press in Setagaya Ward, Tokyo, in May. 2022.

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.