Rakuten shares climb 2% on bank unit listing progress

TOKYO (Reuters) - Shares in Japan's Rakuten Group Inc climbed 2.4% on Tuesday, a day after the e-commerce firm said it has applied to list its online banking unit on the Tokyo Stock Exchange.

Rakuten announced plans for an initial public listing last September as it grapples with the cost of building a mobile network. Its shares last month hit their lowest level in more than a decade.

(Reporting by Sam Nussey; Editing by Tom Hogue)