Rakuten Securities, a company belonging to the Japanese company Rakuten Group, announced its figures for the first quarter of the year, showing growth in all major areas compared to the same period of the previous year.
At the end of the quarter, the company had a net income of more than 3.8 billion Japanese yen, which was 123% higher than the previous year.
Rakuten Inc’s financial report has been released, showing a 5% increase in net revenue to JPY 23.3 billion. The financial services division alone saw an increase in operating revenue to JPY 24.6 billion, compared to JPY 23.3 billion in the same period last year.
Additionally, the operating income of the Rakuten Group subsidiary was JPY 5.9 billion, which is a significant increase from JPY 3.7 billion in the previous year. Furthermore, the ordinary income and trading income both improved to JPY 5.7 billion and JPY 5.5 billion respectively.
Rakuten Securities is one of the most well-established and biggest retail brokerages in Japan. It offers services to over 8 million people who have general securities accounts. Last year, it began taking orders for American stocks.
For the fiscal year 2023, which concluded in March, Rakuten Securities reported annual revenue of JPY 96.7 billion, an increase from the previous year’s JPY 89.2 billion. The net operating revenue was also higher, at JPY 91.7 billion. The company’s operating income and ordinary income for the period came in at JPY 19.5 billion and JPY 19.2 billion, respectively. The company’s net income for the year was JPY 11.3 billion, a significant improvement from the previous year’s JPY 7.2 billion.
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