Japan's Rakuten e-retailer books larger sales

Nov 09, 2010

Japan's top online Rakuten on Tuesday reported an increase in net sales for the nine months to September as it continues a global expansion of its e-commerce business.

Sales rose to 252.56 billion yen (3.15 billion dollars), up 16.4 percent from 217.05 billion yen posted in the same period a year ago.

The Japanese firm booked an of 44.2 billion yen in the January-September period, up 14.5 percent, from the previous year.

The country's leading Internet retailer is rapidly widening its global reach, having launched a new online shopping mall in China with partner Baidu last month.

The virtual marketplace, called Lekutian, offers goods such as apparel, fashion accessories, furniture, home electronics and appliances, digital equipment and cosmetics,

Rakuten bought French e-commerce dealer PriceMinister earlier this year.

However, plunged 44.2 percent to 26.46 billion yen, after its "net income for the same period in the previous year was substantially higher" due to an adjustment to include deferred tax assets, the company said in a statement.

Rakuten has also bought Buy.com, one of largest e-commerce sites in the United States, while it has entered the Indonesian e-commerce marketplace through a joint venture with Global Mediacom.

The strategy has enabled brisk performance in the e-commerce business segment, with a up 24.9 percent and up 12.6 percent, the company said.

Explore further: Cheaper wireless plans cut into AT&T 2Q profit

add to favorites email to friend print save as pdf

Related Stories

Toshiba profits surge but yen overshadows outlook

Nov 09, 2010

Japanese electronics giant Toshiba said Tuesday its net profit surged in the three months ended September from a year earlier but left its profit outlook unchanged on uncertainties caused by a strong yen.

Panasonic trims net loss, sees return to profit

May 07, 2010

Japanese electronics giant Panasonic Corp. said Friday it saw a net loss of 1.1 billion dollars in the year to March 2010, much smaller than the previous year, and expected to return to profit soon.

Sony rebounds to profit in April-June quarter

Jul 29, 2010

(AP) -- Sony bounced back to profit last quarter and raised its full-year earnings forecast, fueled by stronger demand for its PlayStation 3 gaming consoles, personal computers and televisions.

Recommended for you

Swiss drug maker Roche posts 7 percent profit drop

1 hour ago

(AP)—Swiss drugmaker Roche Holding AG on Thursday posted a net profit drop of 7 percent compared with a year ago, weighed down by a strong Swiss franc and charges from one of its diagnostic units.

Cheaper wireless plans cut into AT&T 2Q profit

12 hours ago

(AP)—AT&T Inc. on Wednesday posted lower net income for the latest quarter due to cheaper cellphone plans it introduced as a response to aggressive pricing from smaller competitor T-Mobile US.

Facebook 2Q earnings, revenue soar (Update)

12 hours ago

(AP)—Facebook is on a roll. The world's largest online social network posted sharply higher earnings on Wednesday as revenue from mobile advertising continued to grow, and more people used it, more often.

Android grabs more tablet market share

14 hours ago

Global sales of tablet computers edged higher in the second quarter, in the slowest growth since 2009, research firm Strategy Analytics said Wednesday.

Microsoft CEO sees 'bold' plan as 4Q tops Street

Jul 23, 2014

(AP)—Microsoft Corp. CEO Satya Nadella painted an upbeat vision of the future Tuesday, saying that the next version of Windows will be unified across screens of all sizes and that two money-losing units—Nokia ...

User comments : 0