Rakuten shares jump as mobile losses narrow

TOKYO: Rakuten Group shares surged on Monday morning after the e-commerce giant reported narrowing losses at its cash bleeding mobile unit last week alongside assurances that it can cover its debt burden for the next financial year.

Shares jumped as much as 5.2% when markets opened, hitting 596.9 yen before shedding some gains. Japanese markets were closed on Friday for a holiday.