Rakuten Securities Inc, one of the largest foreign exchange brokers in Japan, has published its quarterly financial results for three months ending on June 30, 2021. The numbers show a significant rise in revenue, but the net income went down.
The Tokyo-headquartered company reported operating revenue of more than ¥20.5 billion in the quarterly period, which is 21.3 percent higher than ¥16.9 billion generated in the same quarter in the previous year. Net operating revenue also remained in line with ¥19.35 billion, compared to Q2 of 2020’s ¥16.35 billion.
On the other hand, the quarterly earnings could not maintain a yearly surge. The operating income of the Japanese broker came in at ¥2.8 billion for the period, while the ordinary income stood at ¥3 billion. These figures were at ¥3.3 billion and ¥3.32 billion, respectively, last year.
Additionally, the net income took a hit, remaining at ¥1.67 billion, which is down by 21.5 percent year-over-year.
However, strong figures generated in the first quarter of the year kept both revenue and profits in tandem. Net operating revenue and net income for the six month period came in at ¥41.8 billion and ¥5.24 billion, respectively. The first figure gained by 26.6 percent, while income soared by over 8 percent year-over-year.
Group Results to Follow
Rakuten Securities is one of the largest Japanese FX brokers and operates regional businesses, including in Hong Kong, following the acquisition of one of FXCM’s prior businesses five years ago.
The broker is a part of the larger Rakuten Group, which has business in various verticals like the internet and Payments . The group is expected to announce its consolidated financials after a couple of weeks.
The brokerage business gained heavily last year from the market Volatility and influx of retail traders in the market. But, after a year, the continued business growth shows how trading is changing and moving in a positive direction.
