Japanese giant Rakuten Group released its financial results for the first quarter of the fiscal year 2022 (FY22) today. For the reported period, the Group witnessed a jump of 11.7% YoY in revenue as the number touched 437.1 billion yen, which is the highest level ever recorded by the Group in the first quarter of a fiscal year.
In FY22, Rakuten Group saw a spike of more than 11% YoY in the average number of active monthly users. As far as the fintech segment of Rakuten Group is concerned, the revenues related to the financial technology division touched 158.1 billion yen, which is up 4.3% YoY. However, profitability decreased by 7.3%.
“In April 2022, Rakuten Card surpassed 26 million cards issued. In addition, a recovery in offline consumption led to a 26.1% YoY increase in shopping gross transaction value (GTV) in Q1. Rakuten Card currently commands a 22.4% market share of Japan’s shopping GTV as of February 2022, as the company makes steady progress towards achieving its Triple Three goals,” Rakuten Group highlighted.
Rakuten Securities and Payment Business
While the Group experienced decent growth across Internet Services, Mobile and Financial Technology segments, some businesses performed better than others during the first quarter of the fiscal year 2022.
Rakuten Securities, one of the largest financial trading services providers in Asia, surpassed 7.68 million general securities customer accounts in March 2022.
“Since 2018, Rakuten Securities has held the record for the highest number of new account openings in the industry for four consecutive years. The company ranked number one in the industry not only in the number of newly opened NISA and iDeCo accounts, but also in total sales of investment trusts, which reached 691.9 billion yen in Q1 FY2022, as Rakuten Securities grows into an industry leader. In the Payment business, Rakuten Point Card and Rakuten Edy were introduced at all Seiyu stores nationwide as of April 2022, which already introduced Rakuten Pay and Rakuten Check,” the Group added.
