12 May '11, 3pm

Rakuten posts 8% rise in Q1 operating profit

Rakuten posts 8% rise in Q1 operating profit

TOKYO : Business is growing for Japan's largest online company service company Rakuten. It has booked an 8 per cent increase in operating profit for the first quarter to 14 billion yen, or about US$172 million. This is despite extra-ordinary losses of some US$54 million because of the massive earthquake two months ago. Rakuten said it wants to use its Internet platform to help quake-stricken northeast Japan with its recovery efforts. Rakuten's main business pillars are Internet services, Internet finance, and sectors such as professional sports and telecommunications. It has a huge membership of 70 million users, predominantly in Japan. The number of merchants is 37,000, while it has 6 million credit card holders. Hiroshi Mikitani, chairman and CEO of Rakuten, said: "...e-commerce gained further strength. I am happy to announce our growth is faster than before the tragedy....

Full article: http://www.channelnewsasia.com/stories/corporatenews/view...

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