FILE PHOTO: The logo of Rakuten is pictured at the headquarters of Rakuten in Tokyo, Japan, May 15, 2019. REUTERS/Sam Nussey
TOKYO (Reuters) -Japan's Rakuten Group will fold its payments and points businesses into its credit card unit, it said on Thursday, a move that could set up the struggling e-commerce company to eventually list the card business.
Despite strong revenue from its core e-commerce offerings, Rakuten has lost money for 12 straight quarters, hit by the costly build-out of its mobile phone business, which has failed to gain traction in Japan.
