Japanese online services giant Rakuten Group says reorganization of its fintech services will not be completed until January next year. The original target date was October.
The group said in April that it would combine its banking, securities, credit card and other financial subsidiaries into one group.
But now it says further discussions are needed. This includes talk on issues including legal regulations for each fintech service, as well as changing the group structure to improve services.
The group has posted net losses for five straight years to 2023, mainly due to its struggling mobile-phone business.
It hopes that reorganizing and streamlining its financial business, which has been doing well, will strengthen ties among its subsidiaries.