Rakuten Shrinks Losses

Rakuten expecting losses to shrink, ready for 10K 5G sites rollout in 2022

Ever since it started work on the rollout of a new mobile network in Japan, Rakuten has been recording sumo-sized losses.

They ballooned to a loincloth-stretching 225 billion Japanese yen (US$2 billion) last year, more than doubling the 2020 figure, even though group revenues grew 15.5%, to nearly JPY1.7 trillion ($14.7 billion). But the bloat may soon be over, says Rakuten.

Executives at the Japanese company are confident losses will “bottom out” this first quarter of 2022 and start to shrink thereafter. A nationwide 4G network is largely built after Rakuten hit its 96% population coverage target several years ahead of schedule.

Read more on the source of the news (Light Reading) below-