My view for Rakuten in 2026 and beyond

Mickey Mikitani, Chairman and CEO, Rakuten Group

2026 is upon us, and I feel a strong sense of momentum across the Rakuten Group.

Last year marked Rakuten’s 29th consecutive year of growth. Not so long ago, we were absorbing significant losses as we invested in the future. Today, it is deeply rewarding to see those investments begin to pay off, not just on the balance sheet, but in the confidence it gives us as we look ahead.

The world continues to transform rapidly. Social, economic and technological uncertainty has become a part of our everyday lives. But it’s times like these when long-term vision matters most. I have always believed that change brings opportunity, and that belief feels especially relevant today.

Mobile connectivity is a foundation for our everyday life

Establishing Rakuten Mobile was never simply about adding one more service to the Rakuten Ecosystem.

Today, smartphones are the most important interface between people and the digital world. They’re no longer just tools for calls alone. They are your wallet, your TV, your library, your expert consultant or personal assistant. They touch nearly every part of daily life.

At the end of 2025, Rakuten Mobile surpassed 10 million subscribers. This milestone represents more than growth alone. It reflects trust from customers who believe in affordable pricing, transparent services and a new approach to mobile connectivity.

Rakuten Mobile has now turned EBITDA positive and significantly contributes to the Rakuten Ecosystem.

These results are confirming exactly what we expected from the beginning: that Rakuten Mobile can serve as a powerful engine for sustainable growth.

Meanwhile, the technologies we developed for Rakuten Mobile in Japan are also gaining global attention through Rakuten Symphony. Our cloud-native software, OSS and platform solutions are now used by customers around the world, including major telecom operators. What began as a mission to transform telecommunications in Japan is now becoming a global business in its own right.

AI that works for people

The AI boom is rapidly moving beyond the experimental stage, into a world of infrastructure.

At Rakuten, we operate at a scale that allows us to apply AI tech in very concrete ways. We are leveraging our vast and unique data from across the Rakuten Ecosystem to develop our in-house large language model (LLM) Rakuten AI 3.0, with approximately 700 billion parameters.

But developing an LLM is not our primary objective. Our goal is to utilize AI to improve customer experience and satisfaction.

We have already launched more than 70 AI-powered services and solutions, from shopping helpers and discovery assistants to travel personalization and financial insights. Each one is designed to reduce friction and make our services more intuitive.

Many of Rakuten’s core platforms were first built decades ago. To fully realize the potential of AI, we must modernize these systems for greater speed and flexibility. This is essential for future growth.

Rakuten Mobile’s business support system is one area that AI is driving meaningful change. We made the difficult decision to bring this critical software in-house, reducing long-term cost and increasing flexibility. By leveraging AI for coding, testing and design, we are now on track to complete this process in about one year instead of four.

AI is also beginning to reshape user experience at a fundamental level. One example is voice: I do not believe people will continue typing in the future. Voice will become a central interface, and together with AI agents and proactive services, it will redefine how our users interact with our services.

Every business at Rakuten is now developing its own AI agent. The true value lies in how well these agents are integrated. I envision a kind of mother agent that connects all Rakuten services and allows them to work together seamlessly.

Today, the Rakuten Group operates dozens of different apps. This level of complexity will soon no longer make sense. Starting with fintech, we aim to integrate our services into a single, unified super app. With faster networks and more capable devices, AI-driven interfaces make this not only possible, but logical.

Investing in people, in 2026 and beyond

As we undergo this AI-driven evolution, the importance of talent development is clearer to me than ever. In 2026, I will dedicate about 25% of my time to hiring and developing people, both in Japan and globally.

Last year, I met one-on-one with nearly 300 new graduates who joined Rakuten. Speaking with them reminded me of the energy, curiosity and potential that exists within our organization.

This year, initiatives such as entrepreneurship programs at Rakuten Mobile stores are giving younger employees real responsibility and the opportunity to shape how our services connect with local communities. Even as technology evolves rapidly, it is people who will always determine how far we can go.

As a long-term goal, the Rakuten Group is aiming for one trillion yen in operating income. These are ambitious targets, but they are firmly grounded in the progress we are already making today.

The years ahead will no doubt be challenging, but they will also be exciting. Rakuten is a unique company, built on long-term thinking, bold decision-making and a fundamental belief in people. Through 2026 and beyond, I am confident that the best times for Rakuten are ahead.