Rakuten Bank Shares Surge 13% After Raising Profit Forecast
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Rakuten Bank Ltd. shares jumped the most in more than four months after the Japanese online lender raised its annual profit forecast, providing a rare boost for its beleaguered parent company.
The stock climbed almost 13% in Tokyo on Wednesday morning, the biggest intraday gain since Sept. 26. The banking unit of internet retailer Rakuten Group Inc. increased the forecast for the year ending March by about 6%, citing rising interest income from loans and the expanded scale of its business.