Japan's Rakuten Group to start preparing for bank unit IPO

Japan's Rakuten Group to start preparing for bank unit IPO

A staff of Rakuten Cafe is seen under a logo of Rakuten Inc at a shopping district in Tokyo August 4, 2014. REUTERS/Yuya Shino

Japanese mobile phone services and online shopping mall operator Rakuten Group Inc said it will start preparing for an initial public offering of the group’s online banking unit, as it looks to raise funds from its fintech business.

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