Japan Post books $588m impairment loss on Rakuten holding

Japan Post books $588m impairment loss on Rakuten holding

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

Japan Post Holdings said on Friday it booked an impairment loss of 85.1 billion yen ($587.5 million) in the April to June quarter on its stake in beleaguered Japanese e-commerce giant Rakuten Group.