Rakuten considers U.S. IPO for credit card arm #
Japan’s Rakuten Group is exploring a potential U.S. initial public offering (IPO) of its credit card unit as part of efforts to strengthen its balance sheet and reduce debt, according to sources cited by Reuters. The move would follow earlier fundraising through its banking and securities arms, as the company seeks to highlight its profitable fintech divisions
Rakuten Card is among Japan’s most profitable credit issuers, benefiting from deep integration with Rakuten’s e-commerce and loyalty ecosystem. Sources said the company is working with advisers to assess valuation and timing but has not yet made a final decision on proceeding with the listing
A U.S. IPO would give Rakuten access to larger investor pools and global visibility for its financial services operations, as it continues to recover from the heavy costs of building its mobile network.