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Japan Post, Rakuten tie up in digital delivery, cashless payments

Japan Post, Rakuten tie up in digital delivery, cashless payments
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Pandemic prompts capital tie-up between Rakuten, Japan Post

Rakuten to raise $1.38 bil. in capital tie-up with Japan Post Japanese e-commerce giant Rakuten Inc. will raise 150 billion yen ($1.38 billion) from Japan Post Holdings Inc. in a capital tie-up intended to boost competitiveness in logistics, online shopping and other digital services, the companies said Friday. The tie-up will enable Rakuten, known for its online shopping mall, to make the best use of the nationwide delivery network of the postal giant, which also has banking and insurance units. The company is also seeking to bring digital transformation to the logistics business. Japan Post Holdings Co. President and CEO Hiroya Masuda (R) and Rakuten Inc. Chairman and CEO Hiroshi Mikitani announce a capital tie-up between the two companies in Tokyo on March 12, 2021. (Kyodo)

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Rakuten to sell 8% stake to Japan Post in Amazon battle

2 Min Read TOKYO (Reuters) - Japanese e-commerce firm Rakuten Inc said on Friday it would sell an 8.32% stake to postal and banking giant Japan Post Holdings Co Ltd, deepening a logistics tie-up in the face of competition from rivals such as Amazon.com Inc. FILE PHOTO: The logo of Rakuten is pictured at the headquarters of Rakuten in Tokyo, Japan, May 15, 2019. REUTERS/Sam Nussey Rakuten, which plunged to an operating loss in 2020, is under pressure on multiple fronts as it battles Amazon in e-commerce and takes on Japan’s cash-rich telcos with its own mobile network. “Rakuten is the best partner for us, as it has advanced digital technology,” Japan Post Holdings Chief Executive Hiroya Masuda told a news conference.

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Rakuten to sell 8 32% stake to Japan Post in e-commerce war

Japanese e-commerce firm Rakuten said on Friday it would sell an 8.32% stake to postal and banking giant Japan Post Holdings Co, deepening a logistics tie-up in the face of competition from rivals such as Amazon.com.

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Rakuten sells $2 2B of shares to fund loss-making mobile rollout

Japan s answer to Amazon needs dosh for its unprofitable and increasingly expensive telecom project.

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