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Rakuten Swings into Net Loss

Rakuten Swings into Net Loss

   Tokyo, Nov. 7 (Jiji Press)--Rakuten Inc. <4755> said Thursday it swung to a net loss in the nine months ended in September due to a decline in the stock price of Lyft Inc., a U.S. ride-hailing startup that is some 11 pct owned by the Japanese online retailer.
   The development came a day after Softbank Group Corp. <9984> reported an operating loss for its fiscal first half ended in September on soured investments, underscoring challenges facing Japanese investments in major startups overseas.

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AFP-JIJI PRESS NEWS JOURNAL


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