Rakuten wesentlich besser als Rocket

Ono, Yomiuri Shimbun: My second question is about the net loss. Is my understanding correct that the main reason, as in Q1, is the valuation loss due to the strong yen on perpetual subordinated bonds? Please confirm that point.

Hirose, CFO: At the operating income level, the cumulative six-month loss for this fiscal year is 6.6 billion yen, an improvement of 45 billion yen from the same period last year. On the other hand, financial income and expenses worsened  by 66.6 billion yen, which, as you pointed out, is the gain or loss on derivatives heding realated to perpetual bonds. Under IFRS perpetual bonds are treated as equity, so unrealized gains and losses do not impact the P/L, but onlythe derivative hedges are reflected.  

Kaufauftrag aufgeben und "Schwarz & Lang" als Handelsplatz angeben, dürfte er heute zwischen 17.00 Uhr und 19.00 Uhr zur  Ausführung kommen.

https://www.ls-tc.de/de/aktie/rakuten-aktie  

The progress of Rakuten Mobile

In the second quarter of 2025, Rakuten Mobile’s standalone EBITDA improved by 19.1 billion yen year-on-year, reaching 5.6 billion yen. Compared to the previous quarter, when we achieved our first quarterly profit, we were able to further expand the profit. We are making steady progress toward achieving full-year EBITDA profitability in 2025.

As for the number of subscribers, we surpassed 9 million subscribers on July 7th, and as of July 31st, we reached 9.08 million subscribers. Toward breaking the major milestone of 10 million, we aim to further accelerate the pace of net additions in the second half of the year.
https://global.rakuten.com/corp/investors/

 

Finally, regarding the International Business Unit, revenue increased by 1.9% YoY to [USD]481 million, and non-GAAP operating income saw a significant increase of 52.1% YoY to USD10.2 million.

Within this, Rakuten Rewards has been affected by the trend of US companies reducing their marketing expenses. However, both revenue and profit have remained flat while implementing cost controls. Rakuten Viber is showing strong growth in both communication and advertising revenue as the market expands. In addition, Rakuten Viki has achieved increases in both revenue and profit, driven by the expansion of subscriptions and the enhancement of its content lineup.

Q2-2025-earnings-call-transcript
 

Rakuten Mobile significantly improved its earnings performance in the second quarter of the year, its numbers indicating that it is well on track for full-year EBITDA profitability.

August 8, 2025

A strong Q2 from the mobile operator was instrumental in driving group-level operating income for Rakuten for the first time in six years, the Japanese firm announced, showing the importance of that nascent MNO business as part of the bigger picture.

Rakuten Mobile reported EBITDA of 5.6 billion yen (US$38 million), which represents an increase of JPY19.1 billion from a negative position in the same quarter last year. Arguably more importantly, while it's not a huge sum of money for a telecoms operator, it's also a significant uplift on the JPY102 million (around US$700,000) that Rakuten Mobile posted in Q1, its first ever quarter of EBITDA profitability.

"Steady progress is being made towards achieving full-year EBITDA profitability in 2025," Rakuten said in its results announcement. And it's hard to argue with that.

The growth came on the back of an increase in the number of subscriptions and improved average revenue per user (ARPU), Rakuten said.

The operator has already trumpeted its customer growth for the quarter, having reached the 9 million subs milestone in early July.

But in the interests of comparison, it reported 8.97 million total subscriptions at the end of Q2, including MNO, MVNO and MVNE customers, a net increase of 390,000 over three months. As of the end of July, the total was up to 9.08 million.

Customer growth was driven by increased acquisitions and lower churn as a result of the end of the spring sales season and the impact of price changes by some operators, Rakuten said.

Net ARPU, a key indicator for its operating income and EBITDA profitability, came in at JPY2,474 ($16.7), an increase of JPY114 year-on-year.

https://www.telecoms.com/operator-ecosystem/...a-is-into-the-billions
 

Rakuten Bank wins "Country's Best Digital Bank" at the Euromoney Awards for Excellence 2025 for the eighth consecutive year

August 8, 2025

Rakuten Bank is pleased to announce that it will be awarded to the best internet bank in Japan at the "Euromoney Awards for Excellence 2025 (formerly known as the Asiamoney Best Bank Awards for Japan)" sponsored by Euromoney magazine. Country's Best Digital Bank" for the eighth consecutive year.

The "Euromoney Awards for Excellence" is an award launched in 1992 by Euromoney magazine, a British financial magazine founded in 1969. The awards are given to banks that have performed well in the past year in each market around the world, and select the best banks in each country in categories such as digital banking and investment banking. The winners of the awards were determined by a team of senior journalists chaired by Euromoney magazine's editors who conducted in-depth research on each bank and market, as well as online interviews conducted by senior editors with senior banking industry executives in each country.

Rakuten Bank was awarded the "Country's Best Digital Bank" in the banking industry in Japan in the following points:

Expanding the customer base by actively promoting cashless payments using the Rakuten ecosystem
Procedures such as account opening are online, and new services are quickly released through in-house development of the system.

Strong security and financial inclusion initiatives, and BaaS to bring in new customers

Rakuten Bank will continue to provide attractive products and services to customers.

https://www.rakuten-bank.co.jp/press/2025/250808.html
 

By Subha Shrinivasan
Senior Vice President, Global Services Division Rakuten Symphony

August 5, 2025

At Rakuten Symphony, we are at the forefront of redefining how software for telecom networks are tested, validated, and deployed. In an industry where innovation is constant and the tolerance for failure is zero, traditional QA processes no longer meet the speed or scale required by next-generation networks.

The emergence of AI-powered Digital Twin Labs represents a fundamental shift in how we assure quality—replacing manual pipelines with intelligent, predictive systems that mirror the complexity of live environments and learn continuously from real-world data.

As telecom moves toward disaggregated networks and on-demand services, QA must become a strategic enabler. Rakuten Symphony’s AI-led QA labs not only assure quality—they accelerate innovation. With our digital twin approach, networks become self-aware, test environments self-heal, and quality becomes a constant, not a checkpoint.

https://symphony.rakuten.com/blog/...qa-with-ai-and-digital-twin-labs
 

Redefining performance in the cloud-native era: lessons from Rakuten Mobile

August 12, 2025 by Sylwia Kechiche

As 5G matures and network virtualization becomes the new standard, our understanding of network performance must evolve. On July 23rd, I had the pleasure of hosting a fireside chat with Mahmoud Elsakhawy, General Manager of End-to-End Performance & Capacity at Rakuten Mobile, one of the world’s most ambitious and disruptive operators.

Over 30 minutes, we discussed how to measure user experience in a meaningful way, reflecting on how to stay relevant in a world shaped by real user behavior.

It’s not just about speed - and it never was

I opened the session with a simple but important question: Is speed still the most important KPI?
The answer, as Mahmoud eloquently put it, is no. While speed remains a critical element of performance, it's far from the whole story. Today's users expect more than fast downloads. They want reliability, responsiveness, and a seamless experience no matter where they are or what they’re doing. Whether streaming video, playing online games, or attending a virtual meeting, packet loss, jitter, and latency matter far more than headline speeds to ensure a good user experience.

As Mahmoud pointed out, “3Mbps is enough for 720p video, which is sufficient for smartphones but if the network isn’t stable, the experience still suffers.” This emphasis on stability over headline speeds aligns with how today's users interact with their networks: constantly connected, application-driven, and highly sensitive to quality fluctuations.

https://www.opensignal.com/2025/08/...-lessons-from-rakuten-mobile/jp
 

Rakuten Mobile’s growth: experience at the core

Rakuten Mobile’s results speak for themselves. Since its full scale 2020 launch, Rakuten Mobile has reached several milestones. As of July 2025, the operator surpassed 9 million subscribers, signaling growing credibility and appeal in one of the world’s most mature mobile markets.

This growth has been enabled by visible improvements in network quality, which Mahmoud credits to relentless focus on performance innovation.

In previous analyses of Rakuten Mobile’s journey using Opensignal subscriber analytics data, we explored the sources of its customer base, examining where consumers are switching from. An equally compelling aspect of the operator’s  growth story is its inclusive retail strategy. The operator has invested in a multilingual retail staff presence, enabling meaningful engagement with Japan’s growing international population. These residents now account for 25% of all new subscriptions at Rakuten Mobile stores.

At the same time, Rakuten Mobile is gaining traction among younger generations, especially digital natives in their 20s and 30s as per the latest annual report. This is driven by several key factors:
Its app-based onboarding and account management, which appeals to users comfortable with digital self-service.

Affordable unlimited data plans, which offer a compelling alternative to more expensive tiered plans from legacy operators.

A strong brand presence within the Rakuten ecosystem, including integration with Rakuten Points and Rakuten Ichiba, incentivizing subscriptions through ecosystem loyalty rewards.

https://www.opensignal.com/2025/08/...-lessons-from-rakuten-mobile/jp
 

Japan Loyalty Programs Market Intelligence Report 2025-2029

Rakuten, Aeon, and 7-Eleven Lead Japan's Intensely Competitive $3.87 Billion Market

The loyalty market in Japan is expected to grow by 15.4% on annual basis to reach US$3.87 billion in 2025. In value terms, the loyalty market in the country has recorded a CAGR of 17.1% during 2020-2024. The loyalty market in the country will continue to grow over the forecast period and is expected to record a CAGR of 12.9% during 2025-2029. Loyalty market in this region is expected to increase from US$3.35 billion in 2024 to reach US$6.29 billion by 2029.

https://finance.yahoo.com/news/...-market-intelligence-080100157.html
 

auf diversen Kanälen.  

Stock Analyst Note

Rakuten Earnings: Mobile On Track to Full-Year EBITDA Breakeven; Shares Undervalued

Pujance Chan
Aug 11, 2025

Rakuten's June-quarter revenue grew by 11% from last year, and operating profit recovered to JPY 8.8 billion from last year's JPY 18 billion loss, mainly attributable to improvement in mobile losses.

https://www.morningstar.com/company-reports/...ven?listing=0P0000EGGL
 

Rakuten Group also achieved its first second quarter Non-GAAP operating income since 2019, recording 20.1 billion yen in profit, a marked improvement of 31.9 billion yen YoY.

“This marks the first time since 2019 that we’ve made an operating profit in the second quarter. This accomplishment is a direct result of revenue growth, stringent operational discipline and the advancement of efficiencies through data and AI,” noted Mikitani.

https://rakuten.today/blog/...n-gaap-operating-profit-since-2019.html
 

2,930 base stations added in Q2 – Part of Rakuten Mobile’s plan to deploy over 10,000 sites in 2025 to improve coverage and capacity.

Second consecutive EBITDA-positive quarter – Standalone EBITDA rose by JPY19.1 billion year-on-year to JPY5.6 billion.

Subscriber base nears 9 million – Up from 7.7 million a year earlier, alongside higher ARPU and mobile service revenue growth.

Japanese mobile operator Rakuten Mobile installed 2,930 new base stations during the second quarter of 2025 as part of a plan to deploy more than 10,000 sites this year to improve coverage and increase capacity.

During a conference call to discuss the telco’s quarterly results, the telco’s chairman Mickey Mikitani said the company will step up the rollout in the second half of the year, adding that Rakuten Mobile has made “significant improvements in network stability.”

The Japanese operator also reported subscriber and revenue growth in Q2, along with its second consecutive EBITDA-positive quarter.

By the end of June, the carrier had nearly 9 million subscribers across the Asian country, up from 7.7 million a year earlier. Mobile service revenue increased 26.9% to JPY47.7 billion ($323 million), with ARPU up 3.8% to JPY1,773. Total segment revenue rose 33.5% to JPY90.6 billion.

Meanwhile, Rakuten Symphony revenue climbed 53.8% to JPY18.1 billion, with six new contracts signed in the quarter, including one with U.S. carrier AT&T.

https://www.rcrwireless.com/20250811/5g/rakuten-mobile

2,930 base stations added in Q2 – Part of Rakuten Mobile’s plan to deploy over 10,000 sites in 2025 to improve coverage and capacity.
Second consecutive EBITDA-positive quarter – Standalone EBITDA rose by JPY19.1 billion year-on-year to JPY5.6 billion.
Subscriber base nears 9 million – Up from 7.7 million a year earlier, alongside higher ARPU and mobile service revenue growth.
Japanese mobile operator Rakuten Mobile installed 2,930 new base stations during the second quarter of 2025 as part of a plan to deploy more than 10,000 sites this year to improve coverage and increase capacity.
During a conference call to discuss the telco’s quarterly results, the telco’s chairman Mickey Mikitani said the company will step up the rollout in the second half of the year, adding that Rakuten Mobile has made “significant improvements in network stability.”
The Japanese operator also reported subscriber and revenue growth in Q2, along with its second consecutive EBITDA-positive quarter.
By the end of June, the carrier had nearly 9 million subscribers across the Asian country, up from 7.7 million a year earlier. Mobile service revenue increased 26.9% to JPY47.7 billion ($323 million), with ARPU up 3.8% to JPY1,773. Total segment revenue rose 33.5% to JPY90.6 billion.

Meanwhile, Rakuten Symphony revenue climbed 53.8% to JPY18.1 billion, with six new contracts signed in the quarter, including one with U.S. carrier AT&T.

https://www.rcrwireless.com/20250811/5g/rakuten-mobile
 

Rakuten Earnings: Mobile On Track to Full-Year EBITDA Breakeven; Shares Undervalued

Pujance Chan
Aug 11, 2025

Rakuten's June-quarter revenue grew by 11% from last year, and operating profit recovered to JPY 8.8 billion from last year's JPY 18 billion loss, mainly attributable to improvement in mobile losses.

While Rakuten is most notable for its e-commerce platform, Rakuten Ichiba, we believe the company’s success in Japan lies in its first-mover advantage in establishing a comprehensive ecosystem composed of e-commerce, fintech, and mobile network services. Over the years, Rakuten accumulated over 40 million monthly active users, and close to 80% of users use more than two Rakuten services. We identify the convenience of accessing multiple services with one Rakuten ID and Rakuten’s point reward system as the main contributors for user stickiness.


https://www.morningstar.com/company-reports/...ven?listing=0P0000EGGL
 

Rakuten Securities' iSPEED surpasses 10 million downloads - Known for the convenience of trading domestic stocks, US stocks, and CFDs in one app

https://www.rakuten-sec.co.jp/web/company/newsrelease/fy2025.html
 

Sir Paul Smith shines at ‘by R’ show in Tokyo

1 day ago

After 14 years, Sir Paul Smith has returned to the Tokyo Fashion Show – this time in collaboration with Rakuten’s ‘by R’ project. During Rakuten Fashion Week TOKYO in March 2025, the veteran British designer teamed up with Rakuten Fashion to put on a show with a personal touch.

“I am so grateful for the opportunity to showcase the collection here in Tokyo, as you know, I have a lot of respect for the city and its people,” said Sir Paul after the show. “It was a special show in many ways… I got to show both Men’s and Women’s collections together, which is not something we do very often, so I was very excited to share that.”

The Paul Smith Autumn/Winter 2025 show was planned and executed together with the ‘by R’ team – a project committed to empowering the Japanese fashion scene by placing the spotlight on select, unique brands. Along with a full livestream, limited-edition products were made available for purchase exclusively through Rakuten Fashion.

“We simply couldn’t have done this without Rakuten’s support,” said Sir Paul. “The team have been supportive in every step of the way and helped us navigate this Tokyo show. I always say that each country, each city has its own way of working and we want to respect that.”

Sir Paul has visited Tokyo more than 100 times. Alongside a deep appreciation for Japan and its culture, he highlights Tokyo’s energy and attention to craftsmanship as key sources of inspiration.
“Tokyo Fashion Week always has a great energy,” he said. “From when I first showed to now, it has given a global platform for local homegrown creatives to showcase their collections and it is wonderful to see their respect to craft and tradition.”

In late 2024, Paul Smith launched a store on Rakuten Fashion, connecting the brand with an even broader audience in Japan. Sir Paul sees shared values in the partnership surrounding creativity, accessibility, and nurturing the next generation of talent.

“Rakuten Fashion have committed to nurturing young creatives as well as their mission to make Tokyo a global fashion destination,” he said. “So, for Paul Smith to be a part of this narrative is truly wonderful and I am thrilled that this is the start of a long-lasting partnership.”

Rakuten launched the ‘by R’ project in 2019 to support designers by giving them a stage in Tokyo, both strengthening the local fashion scene and promoting cultural exchange. For younger creatives building their voice in today’s fast-moving industry, Sir Paul stressed the importance of authenticity.

“It is wonderful to see homegrown talent being celebrated in Tokyo and in many ways, it is important to stay true to your roots,” he said. “I think a lot of my success came from the ‘Britishness’ of Paul Smith and it is great to see how warmly we were welcomed across the globe. I do think it is equally important to respect the nuances in markets and cultures but finding a balance to stay true to your roots is key, as well as having a clear point of view.”

After a successful collaboration and valuable cultural exchange, the ‘by R’ team is more motivated than ever to continue its mission: empowering the Japanese fashion scene by placing the spotlight on select, unique brands loved by a broad range of fans both in Japan and globally.

https://rakuten.today/blog/...nes-at-by-r-show-in-tokyo%ef%bf%bc.html
 

Rakuten Mobile and U-NEXT unveil the next big thing in mobile entertainment

12 hours ago

When Rakuten Mobile, Inc. Chairman Mickey Mikitani and U-NEXT Co., Ltd. Chairman Yasuhide Uno first teamed up to launch an OTT streaming service back in 2002, the very idea of watching movies and TV online was still in its infancy.

Now, more than two decades later, their shared vision for digital entertainment has brought the two together once more, with a major new offering for mobile users nationwide.

On June 23, 2025, Mikitani and Uno announced “Rakuten Saikyo U-NEXT.” This new Rakuten Mobile package promises both unlimited data and unlimited access to Japan’s number one selection of streaming titles via U-NEXT.

A vision two decades in the making

The roots of the partnership dates back to 2002. Mikitani and Uno first collaborated on “Showtime,” an early content distribution service. At the time, internet infrastructure was still developing and going online required connecting up to a LAN cable. Speeds topped 1 Mbps, meaning widespread, high-quality streaming was not yet feasible. But Showtime offered a glimpse of what was to come. The internet would soon seamlessly deliver entertainment to people’s screens.

Today, the technological landscape has changed considerably. Wireless connectivity is second-nature and mobile users can enjoy speeds exceeding 4Gbps in Japan. With Rakuten Mobile’s growing 4G and 5G network and U-NEXT’s massive content library, that original vision is soon to be realized at scale.
Commenting on the partnership, Mikitani explained, “Rakuten Mobile is committed to providing our customers with the best possible mobile experience at an affordable price. Now partnering with U-NEXT allows us to deliver on that commitment by offering something truly unique: Unlimited data combined with unlimited entertainment with Rakuten Saikyo U-NEXT.”

Unlimited data and unlimited entertainment

At the heart of the collaboration is the Rakuten Saikyo U-NEXT package, unveiled in June. For a monthly fee of 3,880 yen*1 (4,268 yen including tax), subscribers will receive:

Unlimited mobile data on Rakuten Mobile’s network

Full access to U-NEXT’s extensive streaming library

More than 200 magazines and 3,000+ children’s books

Live concerts and, starting this fall, select soccer matches

Users can enjoy the new package from October 2025, with service available nationwide.

For those unfamiliar with Japan’s digital market, the country is one of the world’s most competitive OTT streaming arenas, with consumers highly engaged in mobile content. Rakuten Mobile has built its reputation on delivering disruptive value. Meanwhile U-NEXT stands out with the largest streaming catalog in Japan, spanning movies, dramas, anime and more.

The partnership marks a strategic move by Mikitani and Uno to combine connectivity and content. This mirrors a global trend where telecom operators are seeking new growth opportunities beyond traditional data plans.

U-NEXT: The growing force in Japan’s streaming market

Founded in 2007 as part of USEN Corporation before becoming independent, U-NEXT began as a video distribution platform and quickly established itself as a pioneer in subscription-based streaming in Japan. It was among the first services to introduce unlimited video-on-demand, later expanding into e-books, manga and live events.

Today, the company holds the second-largest OTT market share in Japan and number one collection of titles available for streaming. Under the leadership of Uno, U-NEXT has achieved consistent growth within the competitive OTT market by anticipating consumer needs and diversifying its content offerings.

This strong position in the entertainment market makes U-NEXT a powerful partner as Rakuten Mobile seeks to differentiate its services and drive further growth.

Rakuten Mobile’s next phase of growth

In its recent Q2 2025 results, Rakuten Mobile reported 9.08 million subscribers as of July 31, and a year-on-year (YoY) revenue increase of 33.5%. The profit margin expanded from the previous quarter due to increasing subscribers and improved ARPU, marking steady progress towards the company’s goal of full-year EBITDA*2 profitability in 2025. Operating losses also continued to improve by 13.9 billion yen YoY.

The new partnership with U-NEXT is expected to further accelerate subscriber numbers by delivering a unique entertainment-driven proposition. By introducing the next big thing in mobile entertainment, Rakuten Mobile aims to create a catalyst for the next phase of growth and innovation.

https://rakuten.today/blog/...-big-thing-in-mobile-entertainment.html

 

Rakuten: Staying Bullish On EBITDA Beat And Re-Rating Potential

I maintain my Buy rating on Rakuten, driven by strong Q2 EBITDA and the presence of multiple catalysts. The Mobile unit outperformed, achieving positive EBITDA and subscriber growth, with ARPU boosted by high-volume data users. Valuation discounts should narrow as Rakuten demonstrates intra-group synergies and accelerates deleveraging.

https://aktien.guide/aktien/Rakuten-JP3967200001