Japan Post Holdings
In March 2021, Rakuten announced at a joint press conference attended by CEO Mikitani and the President of Japan Post Holdings that Rakuten would allot a more than 8 percent stake to Japan Post Holdings for 150 billion yen, accepting Japan Post Holdings as the third-largest shareholder after the Mikitani family in the first-ever major capital tie-up for Rakuten, in order to be financially equipped to spend billions on installing telecommunications infrastructure across Japan in competition with rival Amazon Japan. Tencent and Walmart, the previous owner of Seiyu Group now partially-owned by Rakuten, also took stakes of 3.65% and 0.9% respectively.