Rakuten’s mobile misadventure: From ambitious plan to millstone

Analysts said Rakuten had only withstood the damage so far because its other businesses are so robust. — Reuters

WHEN Japan’s Rakuten launched a mobile service network in 2020, the eCommerce and financial technology giant promised to disrupt the world’s third-largest telecoms market. It’s done that in part, but the greater shake-up has been to its finances.

By any measure, cash-bleeding Rakuten Mobile is deeply troubled.