Rakuten to take majority stake in eBank

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Online shopping mall operator Rakuten Inc aims to take a majority stake in eBank eventually, Rakuten President Hiroshi Mikitani said. For a stronger business alliance, Rakuten hopes to deepen its ties with the Internet-only bank, Mikitani told a news conference to announce the firm’s first-half earnings.

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Under a deal announced earlier this week, Rakuten agreed to pay 20 billion yen for a stake of about 30% in eBank.

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Rakuten hopes to raise the stake to over 50% to beef up the alliance, particularly in financial settlement services for Rakuten’s shopping mall users.

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