• Kyodo News

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Rakuten Inc. said Tuesday it expects to report ¥65.64 billion in appraisal losses for the year ending Wednesday, mainly from its stake in Tokyo Broadcasting System Inc.

The online shopping mall operator did not provide full-year earnings forecasts, citing volatility in the Internet and securities industries, but the valuation losses are likely to force it to fall into the red for the 2008 business year.

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