Rakuten's Annual Revenues Top One T. Yen for 1st Time

Economy

Tokyo, Feb. 12 (Jiji Press)--Major Japanese online shopping mall operator Rakuten Inc. <4755> said Tuesday that its annual revenues exceeded one trillion yen for the first time in the business year through December 2018.

Rakuten posted consolidated revenues of 1,101,480 million yen, up 16.6 pct from the previous year, supported by strong banking, credit card and other financial operations.

The group's operating and net profits grew 14.1 pct to 170,425 million yen and 28.7 pct to 142,282 million yen, respectively. Both figures marked record highs.

The earnings were partly pushed up by a profit of 23.5 billion yen from the sale of matchmaking service unit O-net Inc.

Rakuten, which is slated to become a fourth mobile phone carrier in Japan in October, also announced an agreement to form a strategic capital and business tie-up with U.S. mobile technology firm Altiostar Networks Inc.

[Copyright The Jiji Press, Ltd.]

Jiji Press