Rakuten Group has reported an increase in its revenue for the first quarter of 2022. The report shows that the Japanese giant had revenue of 437.1 billion yen for the quarter, representing a growth of 11.7% Year-over-Year (YoY). This is also the highest revenue the company has recorded in the first quarter of a fiscal year.
Number Of Active Users Also Surged
As well as the revenue growth, Rakuten Group also realized an increase in its number of active users. It gained 11% YoY when it comes to the average number of active monthly users.
The Group reported that its fintech division recorded a revenue of 158.1 billion yen, representing a 4.3% increase YoY. Despite the revenue in the division, profitability fell by 7.3%, the report noted.
Rakuten said its number of Rakuten Card issued surpassed 26 million last month, and the numbers keep increasing. Additionally, it recorded a 26.1% surge in shopping gross transaction value (GTV) due to a recovery in offline consumption.
The card has a 22.4% market share of Japan’s shopping GTV, as the firm continues to aim toward realizing its Triple Three goals.
Rakuten recorded mixed growth levels in different segments of its business. The company had decent growth across financial technology, mobile, and internet services segments in the first quarter of the year.
Rakuten Group Launches New Products
Rakuten Securities recorded more than 7.68 million general securities customer accounts in Q1 2022. This is in continuation of its records in the industry. Rakuten Securities have been topping the charts since 2018 when it comes to the number of new account opening in the securities industry.
Apart from ranking number one in the number of newly opened iDeCo and NISA accounts, the company also ranked first in total sales of investment trusts, which hit 691.9 billion yen in the first quarter of the year.
Rakuten Edy and Rakuten Point Card were introduced nationwide at the Seiyu stores last month. Already, Rakuten Check and Rakuten Pay have been launched in the market.
The domestic e-commerce gross merchandise sales (GSM) exceeded 1.3 billion yen, representing a 10% surge from the figure in the same period last year. The company has also rolled out the redesigned Netsuper app which enables customers to place orders both online and at the store.