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Rakuten’s Net Loss Widens to ¥124.4B Even as Operating Deficit Shrinks; Kansai Railways Profit From Expo Surge

Despite a 10.3 percent revenue rise from e-commerce units as well as financial services, a costly mobile network push drove the group’s sixth straight half-year deficit

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Overview

  • Rakuten Group recorded a ¥124.4 billion net loss in its interim June results, marking its sixth straight mid-year deficit.
  • The company’s interim revenue climbed 10.3 percent to ¥1.159 trillion, driven by e-commerce, travel and financial services.
  • Rakuten narrowed its operating loss to ¥6.6 billion from ¥51.6 billion a year earlier thanks to improved performance in core businesses.
  • All four major Kansai private railway operators posted higher operating profits in Q1 as Expo and inbound tourism boosted passenger numbers.
  • Keihan HD’s net profit rose 3.0 percent to ¥9.3 billion on expo bus services, Nankai Electric’s net climbed 13.1 percent to ¥7.5 billion after acquiring Tsutenkaku Tourism, and Hankyu Hanshin’s net dipped 0.7 percent to ¥34.2 billion due to tax changes.