Acquisition of Insurance Enhances Rakuten's Ecosystem; Elaboration on Cash Flow Forecasts Needed
Rakuten has announced a tender offer to acquire all of the common stock and class stock of Asahi Fire & Marine Insurance, an unlisted company held by Nomura Holdings, which has already announced it will accept the deal. As a result, Rakuten will add online banking, brokering, credit card, life insurance, and nonlife insurance to its group. We praise the deal, as we think nonlife insurance business has direct synergies with Rakuten’s existing business domains, such as online travel agency and...Rakuten is mainly engaged in the Internet-related business. Along with its affiliates, Co. operates in two business segments. The Internet Services segment is engaged in the operation of electronic commerce sites, including an Internet shopping mall "Rakuten Ichiba," an online cash back site, a travel booking site, portal sites and digital contents sites; the sale of advertising on Co.'s sites; the provision of messaging and communication services; and the management of a professional baseball team "Tohoku Rakuten Golden Eagles." FinTech segment is engaged in the provision of Internet banking services and online securities trading services, and the credit card and life insurance businesses.
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