ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon PrintIcon Twitter
Asia300

Rakuten profit jumps 64%, helped by ride-sharing investment

But Japanese e-commerce company's nine-month gross sales fall below Alibaba's one-day record

Rakuten CEO Hiroshi Mikitani speaking at an earnings briefing in Tokyo on Nov. 13. (Photo by Wataru Ito)

TOKYO -- Japanese e-commerce company Rakuten on Monday logged a net profit of 72.6 billion yen ($640 million) for the nine months ended September, up 64% on the year, backed by valuation gains on its investment in the ride-sharing business.

The announcement came after its Chinese peer Alibaba Group Holding on Saturday recorded a gross merchandise volume of 168.2 billion yuan ($25.3 billion)  on Singles' Day which fell on Nov. 11, about 40% above levels reached a year earlier. Rakuten's gross online merchandise sales in Japan for the nine months fell short of Alibaba's one-day sales, at 2.44 trillion yen.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more