Nov 9, 2010
Japan's Rakuten e-retailer books larger sales
Nov 9, 2010
TOKYO, Nov 9, 2010 AFP © - 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 operating profit 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, net profit 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 net sales up 24.9 percent and operating income up 12.6 percent, the company said.
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