Rakuten Slides Most Since May on Fintech Reorganization Delay

Rakuten Group Inc.’s shares slid as much as 6.7% in their biggest intraday drop since May on delays to the Tokyo-based online shopping mall operator’s plans to combine its fintech operations.

A plan to reorganize Rakuten’s banking, securities, credit card and insurance businesses under one umbrella had fueled optimism around the debt-ridden company, which for years has been trying to turn around its loss-churning wireless business.

Hiroshi Mikitani

Photographer: Akio Kon/Bloomberg

But such a move would not take place until January, instead of a previous goal of October this year, the company said, citing regulatory issues and consideration of Rakuten Bank minority shareholder ...