Report
Dan Baker
EUR 101.80 For Business Accounts Only

Rakuten Announces Plan to Become the Fourth Mobile Operator in Japan; We Are Skeptical at This Stage

Rakuten’s website tells us that in Japanese, Rakuten stands for "optimism." We believe its plans to become the fourth operator in the Japanese mobile telecom market are optimistic, to say the least! The company plans to raise debt of a maximum of JPY 200 billion to build out a mobile network in Japan, which would launch in 2019, with peak debt funding planned to reach JPY 600 billion by 2025, before the mobile business becomes free cash flow positive and can begin to pay down the debt. The busin...
Underlying
KDDI Corp.

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
Dan Baker

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