TOKYO: Rakuten Group Inc. said Friday that its consolidated net loss totaled 75.9 billion yen in January-June, its fifth consecutive loss for the first-half period, due to massive costs related to its mobile phone business although the size of deficit shrank from the year-before level of 139.9 billion yen.

Its Rakuten Mobile Inc. unit posted an increase in the number of subscribers, but costs to set up base stations remained heavy.

The number of subscription to the group’s mobile phone service topped seven million. In June, Rakuten Mobile launched a service using so-called “platinum band” radio waves, which provide better coverage indoors, while strengthening promotion activities, aiming to increase subscribers to eight million to 10 million, levels seen necessary to generate stable profits.

Adjusted operating loss in the group’s mobile phone business shrank to 132.5 billion yen in the first half of 2024 from the year-before level of 185 billion yen.

The group saw profit growth in its internet business, including the Rakuten Ichiba cybermall, and its financial business, such as Rakuten Card credit card operations.

JIJI Press