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Rakuten mulls U.S. IPO for its credit card division
Rakuten considers listing its credit card business in the U.
Rakuten is weighing a U.S. initial public offering of its credit card arm, considering filing options or stake sale to strategic investors. The unit has over 30 million card accounts and in 2024 posted 20% non-GAAP operating profit growth. The proposed IPO is part of Rakuten’s push to unlock valuation and follow peers like SoftBank’s PayPay. Market watchers see this as a strategic step to globalize its fintech ecosystem.