Rakuten prepares listing of securities unit
Japanese e-commerce giant Rakuten is preparing a listing for its securities unit as it looks to diversify, the company announced late yesterday.
Why it matters: The move is a streamlining effort by one of the world's largest e-commerce retailers, which says it wants to speed up decision-making, boost capital efficiency and be more competitive.
Details: A date for the listing, which requires regulatory approval, has not been set yet and could end up being nixed, the company noted.
- "There is a possibility we may even conclude that the Rakuten Group may need to be reorganized or Rakuten Securities may not become listed," the company said in part in the announcement.