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Stock impact report

Rakuten seeks to boost financial services with $415 million Asahi Fire & Marine deal [Reuters]

Nomura Holdings Inc ADR American Depositary Shares (NMR) 
US:NYSE Investor Relations: nomuraholdings.com/investor
Company Research Source: Reuters
Rakuten seeks to boost financial services with $415 million Asahi Fire & Marine deal | Reuters 3 Min Read TOKYO (Reuters) - Japan’s Rakuten Inc said it planned to purchase Asahi Fire & Marine Insurance Co Ltd for about $415 million, strengthening its portfolio of financial services as its steps up efforts to diversify beyond conventional online shopping. Although Asahi Fire & Marine, majority owned by Nomura Holdings Inc, is a small player in Japan’s $76 billion property and casualty insurance market, the acquisition would round out Rakuten’s financial offerings that also include online securities trading, credit cards and life insurance. It would also help differentiate Rakuten’s services as it seeks to ward off increased competition from Amazon and Yahoo Japan Corp which has eaten into its market share. Protecting and improving its earnings has assumed more importance since Rakuten said in December it will apply for a 4G mobile license, aiming to become Japan’s No. 4 wireless carrie Show less Read more
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