Japan's Rakuten set to raise $2.18b through share issue

Japan's Rakuten set to raise $2.18b through share issue

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

Japanese e-commerce and fintech conglomerate Rakuten Group Inc will raise up to 294.2 billion yen ($2.18 billion) by issuing new shares, it said on Wednesday as it works to offset the financial impact of losses at its mobile business.