Rakuten books Q1 loss, offloads Seiyu stake as mobile bleeds

FILE PHOTO: The logo of Rakuten is pictured at the headquarters of Rakuten in Tokyo, Japan, May 15, 2019. REUTERS/Sam Nussey

TOKYO (Reuters) -Japanese e-commerce and fintech giant Rakuten Group Inc on Friday posted an operating loss of 76.2 billion yen ($564.24 million) for the first three months of 2023, dragged down by its money-losing mobile business.

Rakuten posted a January-March loss of 102.7 billion yen for the mobile business - though that was narrower than in the same period a year earlier.