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 === 2. Rakuten ===
 [[File:Rakuten Mobile.png|thumb|590x590px|https://global.rakuten.com/corp/investors/documents/results/]]
-Rakuten is a Japanese multinational company with operations in more than 30 countries and regions. It has over 28,000 employees and operates more than 70 businesses which span retail, financial services, mobile carrier services, fintech, security, etc. In the financial year 2022, Rakuten achieved a revenue of 1.9 trillion yen, representing 14.6% year-on-year growth. It also recorded 39 million active users or growth of 11.2% year-on-year in Japan alone. However despite its massive revenue and size, the group continues to record operating losses, driven mainly by ongoing investments in the mobile division, which also still struggles to attract clients. In the year ended 2022, the group recorded operating losses of 325.6 billion yen, representing year-on-year growth of 44.71%. The good news is that the operating losses in Rakuten Mobile continues to contract sequentially after peaking in Q1 2022. In Q4 2022, Rakuten Mobile operating losses declined by 5.33% to  $ -114.43 billion yen from $-120.869 billion in Q3 2022. Rakuten Mobile also keeps seeing substantial growth in revenue. In Q4 2022, its revenue grew by 75.2% year-on-year to $114,430 million. The division now has 52,003 4G base stations, with 15% of  base stations left to be constructed. It aims to achieve 99%+ coverage before the end of 2023<ref name=":0">https://global.rakuten.com/corp/investors/documents/results/</ref>.
+Rakuten is a Japanese multinational company with operations in more than 30 countries and regions. It has over 28,000 employees and operates more than 70 businesses which span retail, financial services, mobile carrier services, fintech, security, etc. In the financial year 2022, Rakuten achieved a revenue of 1.9 trillion yen, representing 14.6% year-on-year growth. It also recorded 39 million active users or growth of 11.2% year-on-year in Japan alone. However despite its massive revenue and size, the group continues to record operating losses, driven mainly by ongoing investments in the mobile division, which also still struggles to attract clients. In the year ended 2022, the group recorded operating losses of 325.6 billion yen, representing year-on-year growth of 44.71%. The good news is that the operating losses in Rakuten Mobile continues to contract sequentially after peaking in Q1 2022. In Q4 2022, Rakuten Mobile operating losses declined by 5.33% to $ 114.43 billion yen from $120.869 billion in Q3 2022. Rakuten Mobile also keeps seeing substantial growth in revenue. In Q4 2022, its revenue grew by 75.2% year-on-year to $114,430 million. The division now has 52,003 4G base stations, with 15% of  base stations left to be constructed. It aims to achieve 99%+ coverage before the end of 2023<ref name=":0">https://global.rakuten.com/corp/investors/documents/results/</ref>.
 In August 2021, Rakuten Group launched Rakuten Symphony, an organization aimed at spearheading global adoption of Open RAN architecture<ref>https://global.rakuten.com/corp/news/press/2021/0804_04.html</ref>. In Germany, 1&1 is Rakuten Symphony's major client. At the end of financial year 2022, Rakuten Symphony had 14 clients. Five of the clients are from the Americas, two are in Asia/Pacific while seven are in Europe. Rakuten Symphony is also in the process of closing 8 major deals while 56 are in early stages of engagement. Its pipeline grew from $3.1 billion in Q3 2022 to $4.1 billion in Q4 2022 while its revenue was $476m, boosted by $231m in the fourth quarter alone<ref name=":0" />.