Rakuten Securities Reports Lacklustre Performance for Q1 FY 2017

Rakuten Securities Inc, one of the largest foreign Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term brokers in Japan, ‎has reported its financial results for the fiscal first quarter ending June 30, 2017, which were characterised by lagging revenues and profits, according ‎to a Rakuten statement. ‎

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Rakuten Group plans to announce its consolidated financial reports for the six months ended June 30, 2017, on August 7, 2017.

For FY Q1 2017, Rakuten Securities revealed that its operating revenues pointed slightly higher, coming in at ¥12,521 million ($112.17 million) during the three ‎months through June 30, 2017, a flat change from ¥12,405 million ($111.13 million) reported back in the same period a year earlier. ‎

In addition, the company yielded a net income of ¥ 3,172 million ($28.4 million) during Q1 2017, down 31.1 percent year-over-year from ¥4,610 million ($41.29 million) in Q1 FY 2016. ‎

In terms of total net assets, as of June 30, 2017, Rakuten held ¥83.10 billion ($744.3 million), a loss of 5.0 percent from ¥87.4 billion ($783.18 million) at the end of the previous fiscal quarter. ‎

Rakuten Securities noted that it made JPY 2,988 million net gain in FY 2016 on trading of investment securities for sale which was included as a part of its operating revenue. However, it did not have any impact on the group’s income for the first quarter ending March 31, 2016, but only affected the net assets part of the balance sheet.

Rakuten Securities is one of the largest Japanese FX brokers, and operates regional businesses including in Hong Kong, following an Acquisition Acquisition Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There Read this Term of one of FXCM’s prior businesses nearly three years ago.

Earlier in May, Finance Magnates reported on Rakuten Securities when the company was granted regulatory approval in Malaysia via a joint venture with Kenanga Investment Bank Berhad. The latest iteration of the joint venture between Rakuten Securities and Kenanga Investment Bank Berhad builds on an existing partnership dating to April 2016, in which both venues agreed to collaborate on providing online brokerage services through Rakuten Trade Sdn Bhd (formerly Known As EB Global JV Sdn Bhd).