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Rakuten
(4755)
Rakuten (4755) vs. iShares MSCI Japan ETF (EWJ)
Rakuten Business Overview & Revenue Model
Rakuten Earnings Call Summary
Rakuten Financial Statement Overview
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 2.50T | 2.28T | 2.07T | 1.93T | 1.68T |
| Gross Profit | 97.41B | 316.29B | 790.31B | 585.31B | 542.63B |
| EBITDA | 417.88B | 289.41B | 146.60B | -108.83B | 6.47B |
| Net Income | -177.89B | -162.44B | -339.47B | -375.91B | -133.83B |
Balance Sheet | |||||
| Total Assets | 28.80T | 26.51T | 22.63T | 20.44T | 16.83T |
| Cash, Cash Equivalents and Short-Term Investments | 5.84T | 6.17T | 5.13T | 4.86T | 4.69T |
| Total Debt | 5.57T | 5.46T | 4.80T | 4.91T | 3.40T |
| Total Liabilities | 27.45T | 25.28T | 21.54T | 19.57T | 15.71T |
| Stockholders Equity | 992.40B | 927.87B | 836.57B | 813.73B | 1.09T |
Cash Flow | |||||
| Free Cash Flow | 277.83B | 947.64B | 373.04B | -697.36B | 172.07B |
| Operating Cash Flow | 343.50B | 1.19T | 724.19B | -257.95B | 582.71B |
| Investing Cash Flow | -779.81B | -921.72B | -597.42B | -952.41B | -611.83B |
| Financing Cash Flow | 94.72B | 757.47B | 291.96B | 1.49T | 1.40T |
Rakuten Technical Analysis
Rakuten Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
71 Outperform | ¥1.79T | 21.41 | ― | 1.11% | ― | ― | |
66 Neutral | ¥308.90B | 16.14 | 11.17% | 2.61% | 5.63% | 25.64% | |
65 Neutral | ¥1.01T | 21.78 | 47.74% | 2.82% | 6.80% | 0.62% | |
64 Neutral | ¥485.49B | 16.61 | 4.18% | 2.57% | 1.26% | 14.65% | |
63 Neutral | ¥606.27B | 20.63 | 31.11% | ― | 4.83% | 106.29% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
41 Neutral | ¥1.80T | -10.07 | -21.14% | ― | 11.45% | 42.34% |
Rakuten Corporate Events
Rakuten Group has approved the issuance of 5,981 units of share acquisition rights, representing up to 598,100 shares of common stock, as retirement compensation stock options for 49 executive officers. The zero-cost options are structured so that their value tracks Rakuten’s share price, aligning executives’ long-term incentives with shareholder returns.
The options can only be exercised within ten days after an officer retires from Rakuten or its group companies, with a 40-year overall exercise window from issuance. By linking a larger portion of senior executives’ pay to performance-based bonuses and stock price–linked options, Rakuten aims to strengthen motivation for sustained profit growth, improve stock performance, and bolster recruitment and retention of top management talent.
The most recent analyst rating on (JP:4755) stock is a Buy with a Yen1110.00 price target. To see the full list of analyst forecasts on Rakuten stock, see the JP:4755 Stock Forecast page.
Rakuten Group has approved the issuance of 9,151 share acquisition rights as stock options to directors of its subsidiaries and to 67 executive officers and employees across the group, covering up to 915,100 shares of common stock. The options, which require no cash payment and carry a token exercise price of one yen per right, are structured so that a portion becomes exercisable one year after issuance and vests in stages over four years within a ten-year exercise window.
By linking compensation to the company’s share price, Rakuten aims to align management and employee interests with shareholders, enhance motivation for higher performance and stock price appreciation, and support long-term retention. The program extends beyond senior management to include a wide range of personnel, reflecting a strategy to make many employees potential shareholders and strengthen unity in building out the Rakuten Ecosystem in increasingly competitive global talent markets.
The most recent analyst rating on (JP:4755) stock is a Buy with a Yen1110.00 price target. To see the full list of analyst forecasts on Rakuten stock, see the JP:4755 Stock Forecast page.
Rakuten Group’s board has decided not to pay a year-end dividend for the fiscal year with a record date of December 31, 2025, as it prioritizes financial soundness and the reduction of interest-bearing debt. The company says limiting cash outflows will help secure funds for growth investments, stabilize its balance sheet and ultimately enhance shareholder value, while maintaining a long-term policy of stable, continuous dividends and targeting a resumption after improving consolidated results.
To offset the lack of cash dividends, Rakuten will again provide a shareholder benefit program, offering eligible investors a six-month free Rakuten Mobile voice and data plan with 30 GB per month and renewal eligibility. By extending this perk, the group aims to reward shareholder loyalty and promote deeper use and understanding of Rakuten Mobile, a core strategic business that has surpassed 10 million subscribers and is investing in network quality, including its new platinum band service.
The most recent analyst rating on (JP:4755) stock is a Buy with a Yen1110.00 price target. To see the full list of analyst forecasts on Rakuten stock, see the JP:4755 Stock Forecast page.
Rakuten Group reported a 9.5% rise in revenue to ¥2.50 trillion for fiscal 2025, but operating income dropped 72.9% to ¥14.4 billion and the company swung to an income-before-tax loss of ¥29.6 billion, with net income attributable to owners deepening to a ¥177.9 billion loss. Despite this, EBITDA jumped 33.7% to ¥435.9 billion, indicating stronger cash-flow generation, while total assets grew to ¥28.8 trillion and the equity ratio remained thin at about 3–5%, underscoring continued balance-sheet pressure even as cash and cash equivalents stayed high at ¥5.84 trillion after sizable investing outflows and modest financing inflows.
The most recent analyst rating on (JP:4755) stock is a Buy with a Yen1110.00 price target. To see the full list of analyst forecasts on Rakuten stock, see the JP:4755 Stock Forecast page.
Rakuten reported consolidated revenue of ¥2.50 trillion for fiscal 2025, up 9.5% year-on-year, with all major segments – Internet Services, FinTech and Mobile – posting higher sales and stronger underlying profitability. Despite this top-line growth and a sharp rise in Non-GAAP operating income, the company’s net loss attributable to shareholders widened to ¥177.89 billion, reflecting financial expenses, losses from affiliates and higher tax costs.
Internet Services profits rose even after valuation losses on minority stakes, supported by steady gains at Rakuten Ichiba, Rakuten Travel and overseas operations. FinTech delivered significant profit growth, buoyed by higher interest income at Rakuten Bank after the Bank of Japan’s rate hike and record earnings at Rakuten Securities on expanding customer numbers and favorable markets.
In the Mobile segment, increased subscribers and higher data ARPU reduced losses and produced the first full-year positive EBITDA since Rakuten entered the carrier business, underscoring improving economics in a once-heavily loss-making unit. However, IFRS operating profit fell 72.9% to ¥14.38 billion due mainly to the absence of a large one-off remeasurement gain booked in 2024, though management highlighted that, excluding this factor, core profitability and the group’s ability to generate stable profits have strengthened.
The most recent analyst rating on (JP:4755) stock is a Buy with a Yen1110.00 price target. To see the full list of analyst forecasts on Rakuten stock, see the JP:4755 Stock Forecast page.
Rakuten Group, Inc. said it expects to book significant impairment losses on fixed assets tied to its Rakuten Symphony Open RAN and logistics businesses in its consolidated results for the year ended December 31, 2025. The company cited slower-than-expected growth in the Open RAN unit and lower effective warehouse capacity due to delayed cargo volume growth and larger product sizes as key factors behind the write-downs.
At the same time, Rakuten anticipates sizable valuation gains on currency swap derivatives linked to its foreign currency-denominated undated subordinated notes, which will bolster financial income in the fourth quarter of 2025. Overall, the combination of impairment charges and derivative gains will reshape the company’s expense and income mix for the fiscal year, with further details to be disclosed when full-year results are announced on February 12.
The most recent analyst rating on (JP:4755) stock is a Buy with a Yen1110.00 price target. To see the full list of analyst forecasts on Rakuten stock, see the JP:4755 Stock Forecast page.
Rakuten Securities, Inc. reported strong growth for the fiscal year ended December 31, 2025, with operating revenue rising to ¥158.3 billion and net income increasing to ¥21.7 billion, up from ¥130.1 billion and ¥16.1 billion, respectively, in the previous year. The improved profitability, seen in higher operating and ordinary income, underscores the subsidiary’s expanding contribution to Rakuten Group’s overall financial performance ahead of the parent company’s consolidated results announcement in February 2026, and highlights the robustness of its securities business under Japan’s uniform industry accounting standards.
The most recent analyst rating on (JP:4755) stock is a Buy with a Yen1110.00 price target. To see the full list of analyst forecasts on Rakuten stock, see the JP:4755 Stock Forecast page.
Rakuten Group has approved the issuance of 50,314 share acquisition rights (stock options), covering up to 5,031,400 common shares, to directors of subsidiaries and to about 15,600 executive officers and employees across the group. The options, granted without cash payment as part of a performance-linked compensation scheme, are structured to become exercisable gradually from one year after issuance over a four-year period and remain exercisable for up to ten years, aiming to align employee interests with shareholders, enhance long-term performance and stock-price motivation, support retention, and strengthen recruitment in competitive talent markets by making a broad base of staff potential shareholders and reinforcing unity around expanding the Rakuten Ecosystem globally.
The most recent analyst rating on (JP:4755) stock is a Sell with a Yen883.00 price target. To see the full list of analyst forecasts on Rakuten stock, see the JP:4755 Stock Forecast page.
Rakuten Group, Inc. has announced a shareholder benefit program for the 29th fiscal year, offering qualified shareholders a six-month free subscription to its Rakuten Mobile service, with an option for an additional six months if certain conditions are met. This initiative aims to express gratitude to shareholders and provide them with a deeper understanding of Rakuten Mobile, a key business area for the company, thereby potentially strengthening shareholder engagement and loyalty.
The most recent analyst rating on (JP:4755) stock is a Hold with a Yen950.00 price target. To see the full list of analyst forecasts on Rakuten stock, see the JP:4755 Stock Forecast page.