Rakuten Group and Macquarie Asset Management have announced that Rakuten Mobile will raise between JPY 150 billion and 300 billion (approximately USD 1-2 billion) through a sale and leaseback transaction with a consortium led by Macquarie Asset Management, including British Columbia Investment Management Corporation, via the Macquarie Asia-Pacific Infrastructure Fund 3.
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Overview of the Transaction
The transaction will involve Rakuten Mobile selling a portion of its mobile network assets and leasing them back, allowing the company to maintain operational control of these assets. Rakuten Group will promptly announce the final amount and other conditions in due course. The funds raised will bolster Rakuten Mobile's liquidity and support its path to profitability, according to the official release.
Rakuten Group expressed optimism about the deal, stating, "Macquarie Asset Management strongly believes in our vision for the future, and together, we've strengthened our financial foundation. Rakuten Mobile is already well on its way to profitability, and with this new initiative, we will continue to build on this momentum as we aim to reach profitability even faster and become the top mobile carrier in Japan."
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Future Outlook for Rakuten Mobile
"The Rakuten Ecosystem and Rakuten Mobile's network are at the very forefront of this digital evolution, and we are excited to partner with Rakuten Mobile to support and accelerate its business growth," added Asia-Pacific Macquarie Asset Management Infrastructure.
This move aligns with Rakuten Group's financial strategy to enhance liquidity, reduce debt, and ensure sustainable growth, the official release said.
