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Rakuten weighs U.S. IPO for credit card arm amid strategic repositioning
Rakuten considers listing its credit card arm in U.
Rakuten is exploring a U.S. listing for its credit card division with the aim to unlock value and align with global fintech trends. Internal discussions include alternatives like stake sales to strategic investors. The credit card business handles over 30 million accounts and recently posted ~20% non-GAAP profit growth. If executed, the listing would parallel moves by peer SoftBank’s PayPay and reflect broader ambitions to globalize Japan’s fintech ecosystem.